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Strategies & Market Trends : The Options Box

QQQ 627.17

+0.1%

Jan 12 4:00 PM EST

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To: Poet who started this subject	2/22/2001 9:46:54 AM
From: Robert V. Cavaleri	Read Replies (1) of 10876

Options on a buyout: EFNT EFNT has a tender offer from a german company to buy them for roughly twice last nights closing price of 12.25. I wish I were fortunate enough to be holding calls, but I am just studying the options on this. I notice that after about 10 minutes of trading, that the bid on 01 MAR 12.5 calls is now 10.25 (nice), however there are no bids on any of the prices near that strike. Does this mean that the holders of these nice fat call options can't sell them because there simply arent any buyers at those prices anymore?? Seems distressing if true. Perhaps someone can enlighten me as to what happens when you buy options, and the price skyrockets in a case like this, do you wind up having trouble finding a buyer for your long contracts? thanks for any info. Robert

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