Linn still is navigating the process which seems to be unknowable....healthy to be skeptical though.
Read the WF Post. this is the part that gives me optimism and helps explain your doubt.
"While the S-4 proxy is still not yet officially effective, we believe the next amendment that LNCO files will be made effective very quickly"
Maybe "no more comments" is one step before " Effective" which leads to more announcements?
Thank you Ruby for suggesting the 2016 calls. I got some $30 at 2.40 - 2.50.
BRY reports good and says "Hey I'm worth more...now bump up the offer!"
LINE reports good and says "Hey me too...so lets keep it the same!"
Both needing to show the goods since so much time has passed.
Just a thought anyways. And yes I know Line could report bad, mediocre or good.
Not everyone needs cash in their account to cover short put options. It depends on your account. I am definitely not "Big boy trader" (although I could stand to lose a few pounds) and I sold quite a few puts when LINE was stuck at 25-26. I think you need to have the right option level approval AND a margin account. You do have to be careful not to overdo it and manage your risk carefully....in case it goes against you. It's another way of going long except you get cash in exchange for taking risk....the risk is low if you already accept the discounted buying price in advance.... and you are willing and able to buy if it reaches that strike. GL