When volume week of June 23rd before they knew about cash div was 100's of millions they dug a big naked short hole. They have not been able to cover even close with volume since and won't dig bigger hole. To cover they have onky 2 ways.
1. Deal happens and they have to run it up to get shares they sold naked short to cover for div date. Run it up so high they can to cover ASAP before div date. Then feed buyers again with naked short as it continues to run until div date. As run stops and it falls back cover and don't lose any money. That is pretty much what market makers do on any big run. They know eventually it retraces big.
2. Until then they have nothing to lose hoping deal does not happen. If it doesn't they can cover and not have to run it up.
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