I made a fortune on this with options a while ago (thanks Xray). But since the announcement of them being up for sale came out I got back in with a vengence and have been losing big. First my Aug calls went poof and just today I sold my Sept and moved into Oct and Dec calls and in doing so I turned a paper loss into a real loss.
I am getting sick and tired and cranky and miserable waiting for some sort of announcement about a deal. Anyone else out there getting cranky? Anyone else out there ready to kick a puppy?
Takeovers, especially ones that include multiple bidders, never happen quickly. This stock will not move big either way until the process is done and the outcome announced by the company. As for when that will happen, just read the last IDCC press release:
"The company has not set a timetable for completion of the review process, and it does not intend to comment further regarding the review process unless a specific transaction is approved by the Board of Directors, the review process is concluded or it is otherwise determined that further disclosure is appropriate or required by law."
Some of us who wrote the AUG's and SEP's told you to buy the OCT's from the outset, but Noooooo! You guys were dead set on your instant gratfication, pie in the sky, easy money thing. It just does not work that way. Next time, listen.
I've done great with options on IDCC in the past. What is frustrating is that all those previous banked gains got blown away slowly over the last two months of waiting. Grrr! I should have known better than to jump headfirst into August calls, but live and learn I guess.