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iShares Mortgage Real Estate Capped Message Board

  • idccjoe idccjoe Jan 23, 2006 4:36 PM Flag

    REM tracking CDIS

    The present offer is partially contingent upon the CDIS closing price at the TIME OF SETTLEMENT. The $46.33 price mentioned in the PR was based upon CDIS's Friday's closing price of $44.33. CDIS dropped today on the news & therefore REM it did not reach higher than it did. As closing date approaches the COF & risk factored into the price will also narrow. From now to closing, the price movement of REM should follow that of CDIS. Unless a new suitor appears, each REM share at closing will be $27 + 0.436 shares of CDIS. We can cash in our chips now; hope for a new offer to appear and/or hope that the price of CDIS rises. Until then GO CDIS!

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    • That's all true, CDIS stock price is the difference. There is also about .75 for the arbitrage guys. It won't be 46.33 until sell date.

      I still have alot of shares and it will take a while to sell. The stingy MM's don't seem to think there is any time value left in April 40 calls. 5 bucks is as high as they would pay today. At some point this week, we should get to $45.50 share price.

      I am not as optimistic for another bid. REM is not a crown jewel. I will keep a few hundred shares for the chance, but I'm not that hopeful. There is little down-side risk now, so no worries.

      My objectives were met with this stock. I bought alot of shares at 32-34. Nice gain. Options were well over 150%. I had one option on the screen today showing a 163% daily gain. You don't see that every day.

      UPL is announcing their annual reserve update. You don't want to miss that...all IMHO.

      Regards,

      Lenz

 
REM
8.71-0.140(-1.58%)Feb 9 4:00 PMEST