SPRT merger with Greenidge-CSP?

A

antares66

I had read that SPRT will merger with Greenidge in the 3. Quarter this year.
What will happen to the sold cash secured puts for SPRT? Will they be tradable after the buy out?
 
Thank you very much Robert. I´m not quite sure if i understand this completely. Suppose the put price for the 10.15.21 $10 strike is $1.70 at mergerday. According to your attached file the strike devisor is 1, so the strike remains at $10? New multiplier is 100 as the multiplier for SPRT (100)? Is that correct?
 
I'm not sure I do either. What I do know is that after the merger is complete, your option will have a different symbol and have different terms. I also know that after this occurs, those option markets get wider and less liquid. If it were me, I would exit before that happens.
 
Robert Morse said:
I'm not sure I do either. What I do know is that after the merger is complete, your option will have a different symbol and have different terms. I also know that after this occurs, those option markets get wider and less liquid. If it were me, I would exit before that happens.
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Afaik strike and all will be the same, new symbol GREE.
Not sure when merger is complete (monday after vote?) but i guess existing shareholders of gree will dump their shares with both hands...
SPRT price is so inflated. I did short the 20/30 call spread, closed it today.
 
I closed my short put position this morning at $1.69. Nice little profit and it was the right decision since SPRT fell 25% and the put rose to $2.35. The uncertainty was too great for me to keep it longer.
 
JamesJ said:
Afaik strike and all will be the same, new symbol GREE.
Not sure when merger is complete (monday after vote?) but i guess existing shareholders of gree will dump their shares with both hands...
SPRT price is so inflated.
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Looks like they dumped their shares with both hands and then some more... Wow...
 
SPRT showed up great in my trading system, so I sold puts on it. Then I found out about the merger too late and then got screwed in the conversion and the shares basically gapped down. I bought my puts back today at losses. The SPRT/GREE stock and options situation is kind of a shambles.
 
lightninboy said:
SPRT showed up great in my trading system, so I sold puts on it. Then I found out about the merger too late and then got screwed in the conversion and the shares basically gapped down. I bought my puts back today at losses. The SPRT/GREE stock and options situation is kind of a shambles.
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What did you learn from your experience?
 
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