Well I guess we might find out how much short gamma there is around the $44-5 in $HLF. On the surface it looks insane. Moar popcorn plz.
Lew it seems is a good guess.
Ackman has a big (off market) put position expiring in April in the middle of this range.
Specifically he has 12600 April put contracts at $44.50 and another 20,000 at $44.99.
This is a bit over 3 million shares.
If you are short gamma April is the cruellest month.