### Comment:
He could have sold the contract to someone else who was hoping the stock would tank further, and if it did, that new contract owner could exercise.  Or in the case of selling it to a contract writer, the writer has now closed out their position protecting them from further losses if the share price continued to fall.

### REPLY:
right but with so little time left on the contract, how much volume and opportunity really is there for him to sell to someone else? I think in this example it was a week out strike price so I'm talking specifically about a situation with 1 or 2 days left on the option.

### END.