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U.S. Futures, Options Exchanges Close for Reagan's Funeral 2004-06-07 15:26 (New York) U.S. Futures, Options Exchanges Close for Reagan's Funeral By Ann Saphir June 7 (Bloomberg) -- The Chicago Mercantile Exchange, the biggest U.S. futures market, the New York Mercantile Exchange...

National holiday this Friday.

You should have at least given them an option that was feasible. Take Level 1 in December 2004 Take Level 2 in June 2005 Take Level 3 in June 2006 :)

Look at MO the day before it goes ex-dividend. There will be a lot of people engaged in dividend arbitrage. In theory you are right that everything should be fine and you will not lose out. However, one day you may wake up and find that MO (or the tobacco industry) loses a lawsuit. The...

That happens in MO all the time. But remember that this position has the same characteristics as selling naked puts.

Scheduled to trade again at 3:20 pm EDT http://www.nasdaqtrader.com/asp/tradehaltshowpage.asp

They listed 140 strikes on OSIP! ALTH is another biotech that got smacked by the FDA gods.

I don't think he/she has a choice but to defend the stock since he/she initiated coverage yesterday with an outperform rating.

I think they are first at the advisory meeting. Then in early June it goes to the full committee (??) for an approval letter or not.

Is anybody selling out of the money calls? Still pretty high premium. Assuming that the company has to do another trial, it seems to be a pretty sure bet.

Agenda for the Oncologic Drugs Advisory Committee meeting on 5/3 http://www.fda.gov/ohrms/dockets/ac/04/briefing/4037b1.htm

However, a big part of the asset bubble in real estate and stocks is because of the hot money flowing into China. Everybody is bringing U.S. dollars in betting on an appreciation of the RMB. If the RMB appreciates by 5% and there is no change in asset values, being short will cost you 5%.

Unfortunately, I had the 2x1 backspread on for a downside move.

I had a bust in AWE options earlier this year on the ISE. It was the first and only time for me on the ISE.

Be careful though. He may use a Morgan Stanley floor broker to lecture you that you need to improve on your markets.:)

Did you guys notice that they now have 200 strikes.

You could do the following: (1) Sell some options off the table so that you have your original investment back. Then let the remaining fly. (2) Sell some other calls and convert it into a vertical like you suggested.

Also, if you want to liquidate the position via stock instead of the option when it is trading at a discount to parity, you do not have to worry about borrowing the stock. Good for hard to borrow stocks.

Vega, I think nomore misses you. Have you thought about going back to the floor?

This is actually a pretty safe play because there is no shareholder vote. Since PCS is a tracking stock, the shareholders don't have much recourse (another reason why there hasn't been many tracking stocks). Since the company got a fairness opinion, they are pretty much insulated from any...