MNKD is in a special situation and the stock is very hard to borrow. This pressure is priced into the EFP markets which you can view at: http://www.onechicago.com/?page_id=812 Check out the annualized return realized by someone currently long the stock who would like to buy the EFP and capture the $1.05 out to Jan'11 expiry when they would get the underlying back. There are also some size offers in GE and HNZ. Remember the volume bid/ask is for number of SSF. Stock legs of the EFP are 100 times that. If anyone is carrying these names in a margin account and paying higher than the annualized "Ask Rate" displayed they should consider buying the EFP. These markets are available on OneChicago's Block and EFP Trading System (BETS) which sits on institutional trading desks. BETS is also available through the IB TWS by choosing ONE when routing. Best. David