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Strategies & Market Trends : Canadian Options

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To: Lloyd R who wrote (1531)	5/1/2000 5:31:00 PM
From: Porter Davis	Read Replies (1) of 1598

>>what will happen to BCE options once NORTEL and BCE part? According to the latest circular handed out today, here's the gig: each currently extent BCE option will have an underlying (deliverable) of 100 shares of BCE plus 158 shares of NT (due to NT splitting 2 for 1 the same day) plus a small cash amount TBD (I think about .06c/sh) to make up for the fractional shares of NT involved. The current BCE options will be renamed BCQ with no change to strikes or months, and a new BCE (ex-distribution) will be listed. All this takes effect as at the opening on Wednesday May 3. For information, the new BCE traded today on a when-issued basis in a range of approx. $40.75 - 43.00. Be sure to check with a broker to ascertain the exact information. Needless to say, I'm on tenterhooks waiting to see what happens Wednesday...my bet is the IVs go up on NT and BCQ, but that's what makes a market. Happy trading. Porter (and may I add.....Go Leafs Go!)

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