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Politics : Ask Michael Burke
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To: tom r. phillips who wrote (86806)12/13/2000 6:16:48 PM
From: Knighty Tin  Read Replies (1) of 132070
 
Tom, The Leap takes on the life of the takeover candidate at some ratio of shares, so you don't lose the time you bought. So, let's say LU was taken out for $25 or half a share of some $50 co. Instead of 10 calls at $25 on LU, you'd have 5 calls on the new co. It gets tricky when you get into odd numbers, but I have had half calls before. <g>
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