IMO, today's RIMM options volume wasn't unusually large at all, considering the circumstances. That's not the part that smells bad...
Whatever, Christmas bonuses get delivered early to those IR guys for what they did. There's a difference between manipulating and suckering.
Yeah all I saw was someone got stuck with a chitload of 80 puts. I'd buy the dip and wait for euphoria before trying to bear this thing.
Under the thread: Trading - Stocks - Risk of Intraday Price Shocks, someone posted a link to a story about fake press releases and the risk to market players. s/b more of a risk going forward as hackers could probably even get into Reuters or Bloomberg terminals if they wanted.
This is from Fly on the wall September 28, 2006 17:30 RIMM reports Q2 EPS of 74c vs consensus estimate of 71c Reports Q2 revenue of $658.5M versus consensus estimate of $643.6M . Reports Q2 subscriber additions of 702K. Sees Q3 subscribers addtions of 800K. Sees Q3 EPS of 90c-97c adjusted versus consensus estimate of 77c. :theflyonthewall.com 17:20 RIMM to re-state GAAP earnings by $25M-$45M since IPO in 1997 RIMM said Thursday that although the option review is ongoing, it is currently expected that the potential effect of such restatement will be to increase the amount of non-cash charges associated with past option grants and thereby reduce the amount of the Company's previously reported GAAP earnings by an aggregate amount of approximately $25M-45M over the period since the company's IPO in 1997. 17:17 RIMM announces management-initiated stock option review 17:01 RIMM conference call delayed until 17:15 EDT-Dow Jones 16:56 RIMM delays conference call; no reason given-Dow Jones The call was set to start at 5:00 p.m. EDT. The Q2 earnings haven't been released, Dow Jones reported.
At 4:57, Marketwatch.com reported that Rimm was postponing conference call- No reason given. At 5:06 it reported that the conference call would be delayed for 15 minutes.
The question is : what will happen come tommorow at open? And what will the aftermath bring? I tend to stay away from making calls, but this seems a little too manipulated not to attract some attention.
AP: http://biz.yahoo.com/ap/060928/rim_stock_options.html?.v=2 how about the stock going down because of restated earnings? http://biz.yahoo.com/iw/060928/0167745.html
looks the times&sales at the last trade 17:18:07 and the first trade at 17:18:08... i don't have the time in ms but i think it really small... 88.49 to 80.11 ! 8.38 pt ! Freakin you need big balls to handle it