Just to be safe, I bought 450 december 12 put contracts for 0.40... That is to protect my investment of 45,000 shares in CYS. I figure i can always sell the $13 call if it goes up to get back the losses on the puts.
Dividend coming up in December.. the ex dividend run up.. + a special dividend... i think really.. we are looking at a $13.40 to $13.70 share price by Christmas. Under $12? I think those that were lucky enough to buy... great. But i don't count on ever seeing those prices again. It's so unlikely given the share repurchase program. Its game over for the shorts, at least for the next couple months.