I got all of mine now in Fidelity. Only had 200 SUN shares so I got $5007 cash and 104 shares of ETP. I also had written the covered calls for Oct 47 against SUN and they just moved over and became ETP Oct 47 Calls., all 2 of them which I found strange.
I got mine at Fidelity yesterday. This stock is so bad that I'm already a grand in the hole. ETP is crap. If they didn't have the money to cash out SUN they shouldn't have bought it.I NEVER wanted ETP stock and voted for all cash. Got about 48 percent of that garbage and now I'm in the red.
Bizarre. You wanted cash and never wanted ETP stock.
Yet you had months in which to sell your SUN stock before the deadline, in full knowledge that if you didn't sell you would likely (according to the terms of the deal) get part cash and part ETP units. Since you didn't sell your SUN during those months, it appears that in fact you did want ETP units. If you had sold your SUN, by definition you would have got all cash.
If you are worried about capturing the current price, just short an equivalent number of shares. You will effectively be locking in the price at which you are shorting. When your shares are delivered, cover the short. This is similar to "Selling Short Against the Box", except that you don't have possession of the shares, and thus don't have the tax issues.
The shares were issued by ETP to the transfer agent on Friday. Would expect they electronically issued them out on Monday - TODAY. You then need to wait for your broker to post them. TD Ameritrade has received and will post this afternoon after close according to them. Nothing weird. It simply takes the transfer agent a bit of time to do it correctly.
PS - Will the selling complete regarding the merger, any of the complainers note that EPD is heading toward $45. There was and maybe is some overhang of people who do not want a K-1. That should be gone in a week or less.