Simon: Fishy Lehman Action

Very fishy activity going on in Lehman recently...check out the huge volume on the 30 put. that is not the most fishy thing.
Because i have a position in it, i was watching it tick by tick most of the day. The last 15 minutes was crazy. As SPX, DIA, and QQQQ fell to new lows, so did everything else, even GS and XLF...but one stock rose..and rose quite strong with big volume too...it was LEH. why the hell did it rise so much....i expected short covering to take profits...i didn't like the rise at all...

but wait...craziest shit is still to come!

after checking the charts, i checked options data. i got my may 30 put option for 3.70 at about 3:30 when LEH was 10% down. At the close with LEH down 8.9%, the same exact option had a bid / ask of 4.50-4.80...and of course the options volume jumped like crazy...when i bought, the options volume was about 8,000...thats 2x the open interest...a huge number...but after just 30 minutes, at the end of the day, the volume was 18,000+...very fishy action...

was it all insiders buying puts? it makes sense since LEH has consistantly showed weakness this week, with 5%+ down moves each of the past several days. BSC showed these very same signs of collapse the days before the news hit. lets see if options again tell the tape...what will the Najarian Bros say??? you know i'll be tuned in...

news after the bell was that BSC ceo sold off the rest of his shares for 10.83 (something like that) today...that news dropped BSC after hours but didn't move LEH after hours though....i guess that ain't the big news the put buyers were speculating