Yes. There have been 2 occasions of a big sell off after the news.
But there is also this fundamentals that there are gas in place. And it is a fact that there are $3B companies that eventually turn into a $10B company.
That's why there is this phrase "The train have already left the station."
You should decide if you want to risk it.
You should short tomorrow ASAP because when the deal is announced the stock will go down. That's just common sense.
But that's impossible because there is no deal just ask retardius, eric, skellern etc oh and you!
Also, I can't short as I am a losing baggie trying to simply break even by selling at the same price I bought it at: $85. All this PUT buying is to make up for my mistake of buying this stock and trying to break even and minimize my losses.
Who knew that would be the toughest thing in the whole wide world to simply sell at the price I bought at
There will be no sell off because IOC is selling near it's lows and at a price that reflects about $0.65 per thousand cubic feet of gas in Elk & Antelope. Gas sells at a minimum of $1.00 per thousand cubic feet and this gas is cheap to get out of ground plus Exxon wants it for their LNG plant as do other bidders.