Take a look at the November 12 Puts. Up 177% today. Unreal. The Market would really have to Crash and Burn for ACAS to go under $12 when they Expire, IMO. Still think your $14 Nov Puts will be okay for the reasons previously stated.
Not going to see very many opportunities like today again.
We will not be below $14 in November for several reasons.
1. The aggressive buyback now in effect.
2. The Filings to the SEC and Proxy will be announced in September.
3. This latest drop is all due to the overall rapid Market Decline and not because of specific news to ACAS. All the news for ACAS looks really positive going forward, IMO.
We are basically in Correction that is long overdue triggered by the drop in China's economy and the Fed increase in September. JMHO
China's economy heading South and Europe's economy on the brink. Add to the almost certainty of a September Fed Rate Hike, so it's not surprising to finally see the Market take a real hit. Few saw Apple come off it's highs, so why should anyone scratch their heads with Disney coming off it's highs.
More to go if we are going to attain a Healthy Correction.
Jan17 105 Calls are going for around $10