Are You Stuck In NEW?

Quote from CalScholar:

There's a 30% short float and record put buying last few days. NYSE is screwing over a lot of people. These obstructionists should allow the market run its course.
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I find it funny kind of I have to admit...not to those stuck but the amount of shit investors are put through by the total inability of the SEC to stop the real crooks and the likes of the NYSE, AMEX, and NASDAQ to clearly be ruled by bullshit trading...the hybrid is a joke, I'm convinced.

What they've done here is on par with presidential pardons of known criminals...it's a pretty damned egregious abuse of power.
 
Quote from Htrader:

I always thought you could still exercise options even if the stock was halted.

So just exercise your puts, and cover when the stock eventually hits the pink sheets.
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You probably can...the options trade outside of the realm of the NYSE anyway....so as long as there's a market for them.
 
Quote from Htrader:

I always thought you could still exercise options even if the stock was halted.

So just exercise your puts, and cover when the stock eventually hits the pink sheets.
More...

I considered that, but if the company goes straight to liquidation from this suspension, then I'd suffer a much larger loss. Is that even possible, or am I wrong on this?
 
Quote from Htrader:

I always thought you could still exercise options even if the stock was halted.

So just exercise your puts, and cover when the stock eventually hits the pink sheets.
More...

You probably can...the options trade outside of the realm of the NYSE anyway....so as long as there's a market for them.
 
A Scottrade broker informed me that if the halt remains in effect through Friday, one of two things will happen: they'll delay expiration or they'll go off last price. Final decision won't be made until then, so I have to wait.

A question for those in the know: Can stocks go straight from halted to liquidation, or will trading continue on pink sheets. Before I exercise, I want to make sure I'm not committing more money to a position that may be worth $0.
 
Quote from CalScholar:

A Scottrade broker informed me that if the halt remains in effect through Friday, one of two things will happen: they'll delay expiration or they'll go off last price. Final decision won't be made until then, so I have to wait.

A question for those in the know: Can stocks go straight from halted to liquidation, or will trading continue on pink sheets. Before I exercise, I want to make sure I'm not committing more money to a position that may be worth $0.
More...

If you are long the NEW puts I would be feeling good. If I were you I would call the Options Clearing Commission and ask them to explain how this will be resolved.

http://www.theocc.com/default.jsp
 
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