SLS and Unusual Options Observations

Yesterdays’ price action was a little difficult to watch but it wasn’t surprising given the absolute tear this stock has been especially since the Regal update.  It’s still massively up from just a month ago and the situation is still extremely bullish. Some posters are saying this is a pump a dump, manufactured by retail.  That’s absolute nonsense.  Retail doesn’t have the weight and the long term opportunity is very real with positive results from the Regal study. The stock is simply rerating after the most recent update on the Regal trial.  There will be ups and downs as the market tries to price this opportunity prior to any confirmation on the trial. The risk STILL skews to the upside for me.  Extremely conservative price targets on successful GPS are still 3-4x from where the stock is trading today. My own much more bullish take has fair value around 8-12 prior readout and 4-5x from there on positive results from Regal. \~ I’ve been tracking options on SLS casually for a while now but I started to take a closer look after the Regal update. I hold commons and Jan 2027 1c’s but I was more interested in the short dated calls, particularly after yung\_ceejay posted DD and then blanche posted on the sellas sub.   During yesterday’s sell off, I noted that the deep in the money .5c and 1c had a lot of volume relative to OI and figured someone was closing their position.   Here are last night’s numbers for OI and volume: https://preview.redd.it/3nhd1rvsvxbg1.png?width=712&format=png&auto=webp&s=31b72a3769e7c7c6c7e80910ffe19d6645211b74 https://preview.redd.it/uen6fawsvxbg1.png?width=716&format=png&auto=webp&s=9481314a2ca7d7a440aa60bbb8eec2b93589a28d Here is what I’m looking at this morning: https://preview.redd.it/ppmhfqvsvxbg1.png?width=456&format=png&auto=webp&s=70f140a414a1332b9f80be03bff9b430752f3539 https://preview.redd.it/9uyyz0wsvxbg1.png?width=410&format=png&auto=webp&s=610f6d9155c8acb4f6c40766bee2fd5f93b215ed First thing I’m noticing: OI on the .5 and 1c barely budged. 406 of .5c contracts traded and JUST 5 were closed. Which is strange, at least to me.  It would seem to indicate that there was basically an equal amount of interest in owning those options as there was in selling.  I know it’s only 400 contracts but it still seems strange.   I can understand the selling party but who would even be targeting those options, so deep ITM and so short dated, for purchase? Another notable observation is that overall OI for Jan 16 options increased, particularly on the 4c and 5c, which I assumed would be the case and even bought in myself with Jan 16 5c position.  Finally, I’m not sure if any of this is worth paying attention to because there seems to be an error. Yesterday’s 2.5c listed 6837 OI and 514 volume.  Today’s OI is listed at 6175, which is impossible based on 1st grade mathematics.  Even if the every single one of the 514 contracts traded yesterday were sold, the lowest OI could be today is 6323.  So about 150 contracts disappeared or are unaccounted for.   Any options gurus out there have a take on this?