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Strategies & Market Trends : Tech Stock Options
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To: broken_cookie who wrote (45994)6/17/1998 12:06:00 AM
From: Dwight E. Karlsen  Read Replies (1) of 58727
 
Richard, your Bay options will of course continue to trade at the market price until the merger happens. On the day following the formal SEC filing of the merger, the "recording date", some special symbols will be created for the old Bay options. Your broker will then give you the .6 exchange ratio of the closing price the evening prior to the "recording date", make your Bay options disappear, and in their place will be the new options. The transactions will simply appear in your account, assuming your broker does their job.

I'm not positive on the number of shares per contract or strike, but be assured that after the evening of the merger record date, you will get new options that will trade based on NT stock, worth virtually the same as they were worth the evening prior to the record date.
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