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To: Gary M. Reed who wrote (2169)11/20/1997 10:58:00 AM
From: duncan moyer  Read Replies (1) | Respond to of 42834
 
Gary,

As a broker I'm hopeing you can answer this question.

I own some calls on a stock that is a takeover candidate in an all cash deal. The calls are at the takeover offer price. Can the shares which are "light" the calls be tendered or will the seller of the call position need to buy back the calls prior to tendering?

TIA



To: Gary M. Reed who wrote (2169)11/20/1997 1:12:00 PM
From: Investor2  Read Replies (1) | Respond to of 42834
 
RE: "The only way a stock can be loaned out is if the account that owns the stock has it under margin, oftenly referred to as "Type 2."

What does "has it under margin" mean? Can the financial institution that loans the stock out have initially bought it on margin?

Thanks,

I2


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