The option, with a $115 strike price, dropped to $12.50 by Friday's close, as the stock drifted to $127.

He said there was a good chance the stock would drift lower because Peugeot's sales under- performed its competitors' sales this year.

"I can get an above-market yield here and the stock may drift at least partway back" to its old highs, he said.

In the morning, stocks drifted lower with many investors standing on the sidelines using the quarterly refunding as an excuse not to participate actively.

The stock, which had increased about 20 percent to almost $24, has drifted back to close at $22.33 today in New York.

The stock has drifted, and top officials, including the chief executive, have swiftly shuffled in and out.

Most stocks in the group peaked late in March and have been drifting lower since then.

But by noontime, with many traders headed home for the start of the long weekend, stocks drifted until the end of the session.

The stock has since drifted further downward.

The stock has drifted further south to $13.50, off 47% from its 52-week high, from Peizer's resignation.