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Technology Stocks : Nimbus CD International
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To: Carmine Cammarosano who wrote (1664)7/30/1998 12:19:00 AM
From: Pawel Achtel  Read Replies (1) of 1673
 
I would not be so sure with your "lost money". "They" need to buy back your calls before the deal is closed. Otherwise you have a right to exercise. To do that you have will be paid a "fair value" before the deal goes through. Mind you, you have purchased a contract that allows you to buy the stock anytime until January at the strike. No one can make your contract void. You paid money for it and you have the right. Simple as that. The only way they can get all those calls out of the market is to pay the "fair value" (using Black and Sholes model). Otherwise you have a right to complain to the CBOE or the Securities Commission that your option contract cannot be exercised.

Cheers,

Pawel
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