Mystery to Me - Shy did Sears (SHLD) Pop today?

To me and most of the investment community, Sears is “walking dead” on its way to bankruptcy.

The only piece of news that might be relevant to SHLD jumping over 9% today is that CEO Eddie Lampert exercised a bunch of options and “bought” a bunch of Sears stock for free. but that doesn’t exactly imply a great show of confidence. I’d take Sears stock for free, too.

Disclosure: I’m holding four $3 puts on SHLD that expire in Jan. 2018.

Sears stock is so heavily shorted that there’s virtually no stock now available to short. My broker (Vanguard) didn’t have any, for instance.