that is correct http://www.888options.com/help/faq/splits.jsp?prt=etrade#2
You can also search the occ linked above for the term bankruptcy and find other examples of what they've done in the past.
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Are You Stuck In NEW?
- Thread starter CalScholar
- Start date
that is correct http://www.888options.com/help/faq/splits.jsp?prt=etrade#2
You can also search the occ linked above for the term bankruptcy and find other examples of what they've done in the past.
Can't wait to buy NEW on the pink sheets!
Quote from CalScholar:
What happens to shorts and put buyers with NEW shares halted, possibly for an extended period? Are put buyers with March expiration at risk of losing their investment?
I ask because I opened a small position with March expirations on Friday. Now I'm concerned that NYSE could turn what should have been a good profit into a loss of initial investment.
Any ideas???
Just look at Delta airlines.
http://finance.yahoo.com/q/op?s=DALRQ.PK
Trades on the pinks but the options are still being traded.
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.
How do you figure that someone short got "screwed over". If the stock never opened again, it would be worthless wouldn't it? In other words, any short seller would have already received the proceeds from his sale, and would not have to buy anything back. It doesn't get any better than that.
In reality, the stock will have some value when it finally trades, that value dictated by what the company decides to do. If they file bankruptcy I would assume a value under $1.
Your broker was full of shit my friend. He has no clue.
I would exercise my puts if it came down to it (it may not if the stock starts trading anywhere at all, because then the options can trade). That puts you short. I can't think of any reason why you couldn't do that...it's the right of a put holder. But call the OCC and ask them.
OldTrader
Quote from OldTrader:
How do you figure that someone short got "screwed over".
Between yesterday and this morning, the stock would have traded down to a nickel. Luckily, more bad news is coming, otherwise the NYSE could resume trading when the panic is over and shares could go up from yesterday's pre-market last of 1.66.
I called the OCC and I can exercise the puts, which I'll end up doing if the stock doesn't resume trading. But if news comes out in the next week, before the stock begins trading, that someone is going to bail this company out, then I will have exposed myself to potentially substantial losses. In other words, any further delay in trading at this point can only hurt shorts and put holders. It cannot help.
CNBC saying its delisted from NYSE.
wait 4 the restucturing plan and load up
NEW wil get financing
7000 employess...
no criminal activity
this company will survive and rebound somewhat
l
NEW wil get financing
7000 employess...
no criminal activity
this company will survive and rebound somewhat
l