By now, the rumours are going around that Icahn may be initiating a position in RIMM.
This news, remains a rumour at this moment.
I am betting that it is nothing but a rumour and has initiated a small PUT position, betting that it will not come true.
In fact, I have a theory on this rumour. We are now at the tail end of Q3 (end September). In a few more days, Q3 will ends.
Are there fund managers trying to get out of their position?
Are there fund managers trying to get that little extra profit up or the losses reduced before the quarter ends?
Nonetheless, my position is small. There is no chart or technical basis for it.
Like the rumour, mine is a speculation as well.