Something isn't Kosher. There are a lot of option holders who will get fucked if it goes above $1 and remains there for a month or two.
I got out of the puts yesterday, these guys dont want to let this stock go. $1 puts offer bad risk/reward
nice input timm. so you're saying your strategy is to only invest in what you consider to be risky situations??? Truth is, we invest in the best risk to reward ratio we can come up with when we invest. Your comments are silly. The GMGMQ action right now is strictly a function of big money manipulating to make 1.00 puts worthless at expiration. While they're illegal, they still happen and it destroys the system. Contrary to your comment, it's better to let the average investor be enraged about this as they should be because that may someday encourage a fix to this madness than for you to say "a sure thing is never a sure thing". If your neighbor was mad because his daugther got shot at a gas station you wouldn't sit back and smugly say "haha for thinking your daugther was safe anywhere". Truth is, you don't have any control either unless we all do something about it. Better not be the idiot laughing right now, or you'll be the idiot who suffers next week.
If you read my one of my posts a few weeks ago, I sold the 1.00 puts when stock was trading about 1.33. Sold them for .45. My reasoning was that the stock simply wouldn't collapse to 0. They never do, they float around for a while. If you can't see the pattern that has developed lately (Lehman, Bear, etc.) then you shouldn't be playing this game. End of story!