Possible tax liabilities and shareholders have been jerked around in the past by Yahoo mgt. with failed buyout offers
yes but lots can happen. If deal announced before May expiration he loses around .74 per option... a bad move for 1,020,800 shares. Still a bullish trade tho as expiration draws near
10,208 May 34 calls sold @ 2.34 and the same number of June 35 calls were bought @ 2.60. The position is set up to be a winner if no buyer by the time the May expires and price just chops around. That would leave June still worth about 1.75 if the takeover is alive. They can sell and pocket about $1.50 for a $1.5 million profit, or hang on and hope for buyout b/4 June expiration. I think I did my numbers right ;)
Source: $YHOO sale process has moved onto second round.
I don't yet know exactly who is on the $yhoo shortlist (save for $vz). Just know there is one, and losers have been informed.
With Starboard on the board, the deal or no deal will be out in the open and fully explained to shareholders. The bullsh** will stop. I don't care about blame. If it fails I take my loss and move on.
The buyers don't want to see added turmoil in Yahoo. Can you imagine trying to cut a multi-billion dollar deal and the head of the company is about to be fired? Come on you guys.
This will happen thanks to Starboard.
Marissa has given up on keeping her job and Starboard will dictate the outcome. Smith would not have conceded the proxy war without conditions to sell. The conspiracy stuff out there is silly.
4700 more June 38 calls just bought. that's about a $1.5mil. bet due in JUNE. They will control almost a million shares of yahoo if it gets over $38 by the 3rd week in June. Big money involved on the long side.
The mkt was looking for expanded stimulus from BOJ so it sold off last night. Didn't get it but the mkt memory is short as we all know.
I'm just a trader but I do know that fundamentals only become obvious AFTER the price has moved. Nothing is ever obvious until it's too late. I often look for news and go the other way IF it reverses. Again, I'm a trader not an investor