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Sometimes I really wonder about myself. I got so wrapped up in the tender I forgot to notice that oil futures got slammed today.

For an unshortable stock it is certainly taking a hit in the last day or so...I'd hate to have speculated on this one -- looking at it right now..

We saw this done on HON last week. As far as I can tell it looks like a pump and dump -- but that's just my opinion.

Take a look at www.hoadley.net . He has written a fairly detailed app in excel for only $50...

Well that vertical is now going for $1.50 (bid). Sometimes a spade is a spade I guess.

Does seem weird.. I looked at the vertical 35/37.5 for $1.15 but couldn't get there mentally as the only thing to recommend it is the action in the 37's...

Using the Hoadley excel early exercise calculator it looks like early exercise is unlikely unless the sucker moves down below 28 again...

How do these contracts differ from the existing futures contracts and why would anyone bother with them -- i.e. where will the volume come from?

GM to Junk status now... I wonder at what price those $32.50 Puts get early exercise...

It may just be my IB screen but I show 0 vol on GM SSF...

Ah...brain fart. We were talking about the shares being called away and not the put assigned... One last question, if the shares are called away before the stock goes ex-div then you don't owe the $.50 right? Thanks...

GATrader (or anyone), Help me out here if you would -- I am just a beginner. A long synthetic naked is what? Seems to me that after getting the shares put to you -- from the put that was sold aren't you Long Stock from $32.50 Short Stock from $32.35 Long $32.50 Call from .60...

Wouldn't it be interesting if Refco's response was to say "No thanks we don't want the extension." :eek:

oops... looked at the wrong column. apologies...

There is a dividend coming up...

Translation: Everyone we put into this stock has been bent over and is now screaming at us. Apart from suggesting you cover (neutral rating), all we can say is sorry...

Many thanks. Something to think about this afternoon.

Reardon, If you feel like posting an actual example of the trade -- I haven't done a reverse conversion before though I will look it up in McMillian later on -- that would be cool. Love to understand how it works. Sam

I find it highly amusing that someone with the handle Osho would ask about woodie. ;)

More likely we get more weak economic numbers and the markets flail about until the weekend mercifully puts them out of this week's misery...