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Just sold my May GMST calls at a slight loss, and used the proceeds to buy GMST common and a small number of August TVGIA UCQFI June 45 calls at 6 3/8. Reason I did this was that GMST didn't move up that much after great earnings, but I like the company's story even better. However, since the general public still doesn't, it may move sideways for a while, so didn't want to take a chance with deteriorating time premiums. I realize May is still a long way ahead, and may not be the best move, but it is worth peace of mind because I can lock the common away. The CC sounded positive on the TV Guide merger, though, and it might close by the end of April. So the June calls on TV Guide are a good arbitrage bet, and the price was pretty cheap. They traded 80 of them so far. |
