Compare the volume vs price action in the morning and then after the announcement to what happens after the price passes $52.50.
Increasing volume resulted in increasing prices in the morning and immediately after the announcement. However, after $52.50 was hit, the massive increase in volume caused a decrease in price back toward $52.50 with the close at $52.56.
There are 10,282 options at $52.50 and so of course the tail wag the dog program kicks in and stupid sales are made to cap the price.
More examples of losing some money to keep from losing more on the options. Course if the price is going higher, the sales at the end of today are going to prove to be really stupid.
So who sold all those options, Ratio Traders? I think they might have painted a big target on their back today. Anyone buying the idea that miners are under performing is not looking at the data.
Especially since GG closed at $53.95 today. Yife. Of course, did they get enough time to cover?
I thought I had uploaded this chart instead of putting in a hot link. Oh well, it was obvious with the original chart.