Shares continue to be traded while a company is in chapter 11. They are however worthless unless a plan is approved by the court that compensates shareholders. This is not the case with CHC. The price movement that you see is based on very small trades (20 shares were traded today) and they were most probably bought by someone who pressed a wrong button or thought they were buying stock with a similar name. Sorry my friend but you would still be better of investing in a balaclava and a pistol.