Is it hase any value .
2007-12-14 06:40:04 · 1 answers · asked by durshegy 1 in Business & Finance ➔ Investing
I mean that i have Dow Jones Option with strike price 60 and expiration Jan 17 , 2009 . and after News Corp Acquiring Dow Jones m which is gone a private company . is these option has a a value . ???
2007-12-14 06:56:52 · update #1
December 12, 2007
"On
the business day immediately following the Effective Time of the Merger each
Dow Jones & Company, Inc. contract will be adjusted to require, upon
exercise, the per-contract delivery or receipt of $6,000.00 in cash. Strike
prices will remain the same, and the DJ/OSB/KKY option symbols will remain
the same. If the Merger is, in fact, completed on December 13, then the Dow
Jones & Company, Inc. contract adjustment would be effective for Friday,
December 14, 2007. [Any FLEX series that may exist will be adjusted in a
similar manner to the standardized option.]
Please be aware that trading in the adjusted DJ/OSB/KKY options will be
suspended as of the date on which the option contract is adjusted. There
will be no restrictions on the exercise of the adjusted DJ/OSB/KKY options."
Questions regarding this memo can be addressed to Options Industry Services
at 1-888-OPTIONS (1-888-678-4667).
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Unfortunately for you, a buyout for $60 per share makes an option with a strike price of $60 per share worthless.
2007-12-14 12:05:50 · answer #1 · answered by zman492 7 · 0⤊ 0⤋