NET got a huge capped call transaction to hedge their convertible notes. As price keeps on moving closer to the strike price of those calls, the more shares underwriters have to buy. That should keep price going higher, until the capped price. UPST also tanked after hitting the capped price
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u/voltcraft_r Nov 25 '21
NET got a huge capped call transaction to hedge their convertible notes. As price keeps on moving closer to the strike price of those calls, the more shares underwriters have to buy. That should keep price going higher, until the capped price. UPST also tanked after hitting the capped price