Enzo Biochem, Inc. ($0.01 Par Value) (ENZ) Social Stream
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$ENZ Another 450 puts for October 5 done today $1.85. This was done on the bid so it was initiated by the seller. At that time the stock was $3.13 for a $.02 premium. I believe the specialist or market maker was the buyer. I believe that the buyer hedged his position so was looking to be a buyer of 45,000 shares. That stock was provided by HFT who wanted the trade so he shorted the stock to him. They then will work the stock lower to buy and cover their short. Why would you sell at such a low premium? Perhaps he wants to have a larger position and is looking for the stock to be put at $5 in October. Two days earlier 720 puts were sold of the Oct $5 for $1.85. same scenario. This is bullish.guarda, published August 13, 2021
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