I own 3/17/2012 NXG ($2.50) calls. My account now shows them as AUQ calls BUT at the same price as yesterday's NXG calls. I assume this will change but I've never had this happen before and would appreciate some knowledge.
You NO longer have them. Now you have 0.365 of AuRico Gold call for each ex Nxg call held.
In an all cash deal if your options are underwater, you're screwed. In a stock deal the contract number remains the same, but the deliverable changes. The counter party now must deliver AUQ shares. SEE the CBOE document at the link below. And, as another post has noted, you really should have known this before the deal closed... but in this case because it was an all stock deal you are safe.http://www.cboe.com/framed/PDFframed.aspx?content=/publish/TTStockSM/11-683.pdf§ion=SEC_RESOURCES&title=CBOE%20-%20CBOE
I don't know, but why have you waited until now to figure it out?
Ditto... Why did you not Sell them and rol them into AUQ's...?I know I had to sell some at face value, could not get 'face' on others, exercised them and then sold the NXG shares... still cost some extra to do though...Call your Brokerage, I would think the would be a 'special issue AUQ call' worth ~36 Shares per contract...Please post what you find out from your Brokerage... Very Curious as I never had that happen before either...ThanksVegas