Did knock-out barriers push Starbreeze shares down?

I hate to blame short-sellers or market manipulators for a stock going down. But I also have a lot of respect for option barriers. They often act as a short term magnet for prices because of the nature of option hedging.

I won't go into details but to make a long story short, an option trader does not care about the direction of a stock, the option trader makes money of the spread and hedges risk by owning the underlying instrument. But around barriers the option trader's life gets difficult because the hedge, the amount of stock needed to be correctly manage the risk (delta), is moving around like crazy (high gamma) because the barrier is a digital event. The option trader does not like this. 

In Starbreeze there are a few warrants in the market which offer a leveraged long exposure to the stock. When the bank (in this case MorganStanley) sells such a product they hedge their risk by buying Starbreeze shares. To enable leverage these warrants have a knock-out level. One of those warrants had a knock-out level at 17.46. As the share price moves towards the knock-out level gamma starts to increase, a situation the option trader normally does not like. If the option trader at any points feels certain that by dumping all of the Starbreeze shares (which are held as a hedge should the stock go up) into the market the knock-out barrier will be hit and the option will be dead, the trader will most likely go for that alternative. 

MorganStanley being a large seller today and lacking any other news around Starbreeze I am inclined to believe that this is what might have caused such a large move in the shares today.

The bad news is that there are more warrants out there with barriers at 16.37 and 15.52 so we might go even lower. 

The release date for RAID, Payday Crimewar and Walking Dead should be published any day now so getting into the stock at these levels looks attractive. But I might just wait until 15.51....