I was long the June 5 put for that stock. It was a small bet that it would crater too much lower levels when MF and IB collapsed two months ago. I got out at 0.5 today for a 0.20 loss anyway I didn' t expect to be filled. My question is why did anyone buy it if not to cover a short position? If MF collapsed under 5 over the weekend and since the options expire saturday can someone make a profit over the weekend ? I believe you can get assigned after the expiration if the stock moves after the close so I suppose if you are long calls for example you can still make a profit after the last trading day. But what happens when you are long puts and the stock drops under your strike either in after-hours or Monday before the open ?