$GMCR – just a little story about what happens when a company that has options gets bought out for CASH –
Last December GMCR announced that they were being acquired. I got crushed on some short calls so I decided to try and make some of that back.
I sold some long term puts for whatever I could get for them, knowing that they would go away once the merger was completed.
I covered the Jan 2018 puts a few weeks ago at 0.02. The ones below I kept –
GMCR Jan 20 2017 70.0 Puts – Sold at an average of 1.50
GMCR Jan 20 2017 75.0 Puts – Sold at an average of 1.50
GMCR Jun 17 2016 70.0 Puts – Sold at an average of 1.00
The expiration dates have all been adjusted so they expire this Friday.
It’s nice to know that it worked the way I expected it would.