VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: Linda Kaplan who wrote (6359)	5/3/1999 7:53:00 AM
From: otter	Read Replies (1) of 6565

Well, I guess I'm as glad that it is over as I am disappointed we didn't get another couple of bucks. (REALLY disappointed, in fact). Depending on action in the next couple of days, the July 20 option strategy is at best a minor gain. (Cost basis for most of them is slightly over half a point). When the hostile takeover was first announced (how long ago it seems), I tried to get some substantive info from my broker about options prices, discounts and strategy... I wasn't completely happy with the answers, but its worth rehashing now... 1. VLSI should trade at a discount to the offer price (21), the delta getting smaller with time. 2. If I were to do NOTHING at all with my options, in time cash equal to the difference between the strike price and the tender price would - appear. 3. The amount of time between closing and cash in hand would more than days and less than years, but it wouldn't be right away. So, I'm agonna watch the price action today. There isn't any rush... We shall see what we shall see.

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