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that is the opening rate until American Transfer and short interest are known.
Tee & Vegas,
All of my IDCC shares are in retirement accounts. I have owned them for years. Recently, I picked up 400 more shares during the recent plunge & those are in my taxable Interactive Broker account, on their "lend lease" program.
I will be getting shorty interest from the 400 shares, as they are designated as being in a margin account.
Now my question:
Are non-margin shares in retirement accounts lent out to shorties?
I hope not!!
Tomcat
that doesnt sound very high..what is regular rate... 1.5%?
tnyellowtomcat, Because B of A told them to sell it short.
teecee56, I called because I am looking to lend 100K of shares. I am not interested until it gets over 6%.
so you have to pay 1.5% in order to borrow the stock....what would be a regular rate?
With all the thousands of stocks out there, WHY would anyone want to short IDCC?
Tomcat
Just a new rate only 1 1/2 %
vegas....i like that....what type of rate are they assigning to the borrow?
InterDigital Honors Wireless and Video Innovation Leaders Paul Marinier and Karam Naser as Inventors of the Year
Source: GlobeNewswire Inc.
InterDigital, Inc. (Nasdaq: IDCC), one of the world’s largest pure research and innovation companies driving innovation in wireless and video, annually honors the company’s outstanding inventors to celebrate the depth of their ingenuity and impact of their innovation. This year, InterDigital has named both Paul Marinier and Karam Naser as winners of the 2023 Inventor of the Year award, selected for their critical research and inventions that have guided wireless evolution and enabled new possibilities for delivering and enjoying video content.
Inventors are the cornerstone of InterDigital’s innovation, and the Inventor of the Year award celebrates researchers and innovators who have made exceptional contributions to enabling, growing, and discovering new solutions for the connected ecosystems upon which we all depend. The innovation impact of this year’s winners Paul Marinier and Karam Naser can be seen within the foundational infrastructure and global standards that make wireless and video technologies what they are today.
“Recognized as one of the world’s most innovative companies, InterDigital is driven by world-class engineers and inventors like Paul and Karam who deeply understand the wireless and video ecosystems and have displayed the expertise to improve them by solving challenging problems that others cannot,” said Liren Chen, President and CEO at InterDigital. “This year’s Inventor of the Year award winners are celebrated not only for the depth and breadth of their patented innovations but also for their leadership and contributions to standards that deliver impact to our technology ecosystem at large.”
InterDigital 2022 Inventor of the Year Award Winners
Paul Marinier
With more than two decades of innovation impact, Paul Marinier’s inventions and contributions to global standards have helped shape the path of wireless evolution from 3G to 4G to 5G and beyond. Since 2001, Paul has developed more than 425 U.S. and 3,150 worldwide granted patents that help comprise the foundation for our wireless experiences today, enabling increased data rates, reduced latency, ultra-reliability, and power efficiency for improved battery life for the plethora of devices, industries, and experiences that drive our connected world.
As an inventor, Paul is motivated by a deep curiosity to find practical solutions for real world problems, and he enjoys the practice of collaborating with peers to build solutions with an impact far greater than the sum of its parts. Alongside his longstanding contributions to 3GPP wireless standards, Paul's significant innovations in spectrum aggregation solutions and contributions to wireless features like ultra-reliable low latency communications (URLLC) have paved a way for networks to reduce latency and support extreme high data rates for emerging use cases like AR and XR, immersive gaming, remote operations, connected industries and more.
Highly revered amongst his peers in research and standards, Paul’s innovation trajectory is synonymous with wireless evolution and his patented inventions can be seen across critical wireless releases. The quality of his innovation and the quantity of his contributions ensure that Paul’s impact is felt through 5G and well beyond.
Karam Naser
Karam Naser has dedicated his research expertise to developing new algorithms and innovative solutions that improve state-of-the-art video compression standards. A named inventor in 540 patent applications, Karam is already driving significant impact in the evolution of video compression capabilities.
With a fondness for math and research that produces clear, objective results, Karam has committed his career to understanding the complex world of video compression and developing advanced coding algorithms to efficiently deliver increasingly data-dense video content. His work addresses the critical question of how to squeeze additional coding efficiency improvements from modern codecs which are already incredibly sophisticated and highly efficient, and his contributions to the Versatile Video Coding (VVC) standard and research into next-generation video coding enable new compression technologies that can enhance compression efficiency beyond state-of-the-art solutions. Among his inventions, Karam leads innovation in transform coding, which uses complex mathematical algorithms to convert video pixels into essential components for more efficient transmission and decoding in devices, and intra-prediction, which compresses components of a video image without referencing previously coded images, to facilitate efficient transfer of video content without sacrificing quality. In sum, his innovations help us more efficiently deliver video, whether streaming a video conference or playing an immersive game on the go.
Karam has quickly gained recognition and respect within video standards as a leading contributor to the JVET group and active contributor of diverse compression algorithms to MPEG. His research leadership has helped to shape important innovation in video compression and build a framework to support both today’s traditional video services and emerging interactive and immersive experiences of the future.
InterDigital’s Inventor of the Year award is granted to outstanding inventors whose innovation impact is reflected in both quantity and industry influence. To learn more about this year’s winners, please click here.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.InterDigital.com
InterDigital Contact:
Roya Stephens
Email: Roya.Stephens@interdigital.com
+1 (202) 349-1714
IDCC has been designated HARD TO BORROW today.
Wow 1.268 million shares traded today. Interest in our company has picked up greatly. Makes me happy.
mucho volume today!!!...tape reads well...my guess is the ramifications of the tender are yet to come....you can PUT off your concerns...but schtuff is eventually gonna happen...stay tuned space rangers!!!!
chill...dont worry about this guy....he's been good for us....because he woke up the sleeping dog.....and he only has one move he can make on the chess board at this point
Off the wall idea. I tried to get this BOA analyst canned, I did not have enough leverage on my own. I think if we could get enough shares/cash committed together as a group we might be able to get it done. Anybody interested?
big cat...i hear ya ...been with with ya....i think its about time we delivered this baby .to somebody who can care for it and bring out its true potential......think of how lonely SHERWIN must have felt on that beach in 1974....now thats some vision...he was only looking to trade stock from his beach blanket...just goes to show you how foolish the true geniuses are!!!
InterDigital To Demonstrate Wireless, Video, and AI/ML Innovation Shaping Connected Ecosystems at Mobile World Congress
Source: GlobeNewswire Inc.
The connected ecosystems of today and the future are all underpinned by wireless and video technologies that make virtual experiences seamless, immersive, and realistic. InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, today announced the innovative technologies, solutions, and perspectives they will showcase at Mobile World Congress 2023 in Barcelona and detail how their suite of technologies help shape the foundation for a future of connected devices, spaces, and ecosystems.
Located at Hall 7 Stand 7B31, InterDigital will showcase their cutting-edge research and industry collaborations that leverage AI/ML to enhance wireless network behaviors beyond 5G to enable bandwidth and latency required for immersive use cases, provide rendering and delivery solutions for high quality HDR content, and shape standards for immersive and sensory-enhanced video experiences.
“We are excited to return to Mobile World Congress to showcase the inventions, research collaborations, and standards contributions that define InterDigital’s innovation impact and bring us all closer to an exciting future of immersive and connected experiences,” said InterDigital Chief Technology Officer Rajesh Pankaj. “InterDigital continues to lead innovation in foundational wireless technologies and video codecs and pioneer research in the ways AI/ML can be applied to critical network components to better enable the myriad devices, services, and experiences that comprise the connected ecosystems of today and tomorrow.”
InterDigital’s presence at Mobile World Congress 2023 spotlights the critical innovations in video and wireless, with the complement of AI/ML, that enable exciting and immersive connected ecosystems and experiences:
Smarter UE and Network Behaviors for 5G and Beyond Applications – InterDigital will demonstrate innovative solutions that leverage AI/ML to enhance 5G networks and improve user experience under radio link degradation. Demonstrating how InterDigital’s enhancements help overcome adverse network conditions that affect user experiences, visitors are invited to conduct a real-time XR task over an enhanced and emulated 5G network, provided by Anritsu, by remotely and seamlessly controlling a robotic arm via live video feed.
Immersive Codecs Enabling Future XR Experiences – InterDigital’s contributions to MPEG Immersive codecs are integral to future XR experiences. Bandwidth-heavy video-based volumetric content can be seamlessly and efficiently streamed over an enhanced 5G network using open video standards like video point cloud compression (V-PCC) and can enable sensory-enhanced experiences with the MPEG-Haptics standard.
Ensuring Quality Streaming and Rendering for 4K HDR Video – High-quality video content is a critical component of realistic, immersive virtual ecosystems. Alongside contributions to MPEG standards, InterDigital will showcase how our video expertise in VVC and SL-HDR technology helps deliver the highest streaming and rendering quality for 4K HDR video.
Encouraging Seamless Digital Representation for Connected Communications - One of InterDigital’s innovation efforts is to support a single virtual representation of users in any connected environment. InterDigital engineers will showcase their contributions to disruptive avatar-related technologies and standards, including MPEG’s 3D reference model for a humanoid avatar.
Alongside the diverse demo showcase, InterDigital’s Head of Wireless Labs Milind Kulkarni will be a featured speaker on the Mobile World Congress “5G, AI, and XR for New Immersive Experiences” conference session. Taking place on Stage C on Wednesday March 1 from 1:15 – 2:15pm CET, experts from InterDigital, Ericsson, Qualcomm, and others will outline the technologies and innovations in AI/ML, 5G and beyond, and XR to shape a new frontier of immersive experiences.
You can visit InterDigital at Mobile World Congress Barcelona at Hall 7 Booth 7B31. You can register to attend Mobile World Congress here.
About InterDigital ®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
Roya Stephens
Email: Roya.Stephens@interdigital.com
+1 (202) 349-1714
Well they need to get Lenovo licensed. Also it looks as though over 1.2 million shares traded around today.
Cat: yes to Q filling the ranks:
Chen - IDCC Pres. and CEO, 25 years at Q, Legal - oversaw intellectual property portfolio.
Pankas- IDCC EVP Communications and Public Policy 25 years at Q research, 3,4,5G
Aberle - IDCC Board member, 18 years at Q, including 4 years as President.
Heavy weight with Q ties,
Teecee,
I think B of A was bearish, as shorts in IDCC have been coddled and protected for so many years and they just thought "past is prologue" when it comes to IDCC. Well, things change and there are a lot of QCOM managers at IDCC now and they know how to get licenses signed and monies collected!
Names taken and A$$es kicked!
IMHO - Tomcat
dueling analysts....fighting it out in the middle of the street...jeffries and boa/merrill are the two most high profile analysts idc has ever attracted....and they are on opposite sides...whoulda thunk....jeffries has always been known for their sharp elbows...merrill not so much....especially when it comes to analysts
This market STINKS, yet it is BORING!
Tomcat
vegas....im wondering if some of this option stuff is due to the convertibles....i saw that idcc mentioned they would look to buy the converts alongside the stock
teecee56, good news in that it means there are only 26.92M shares left.
point of interest....largest volume day leading up to tender was 1.17 myn on 2/14...closing price 72.94...live and learn.....i must say...ive witnessed stuff i never saw before.....how many companies have bought back 10% of their stock in one shot?
teecee56, the stock price went up 22% Sept, 30 to Dec.30. Funds have to reduce to keep the percentage the same.
InterDigital, Inc. Announces Preliminary Results of Tender Offer
Company Release - 2/21/2023
WILMINGTON, Del., Feb. 21, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC) (“InterDigital” or the “Company”) announced today the preliminary results of its modified “Dutch auction” tender offer to purchase up to $200 million of its common stock for cash at a price per share not less than $65.25 and not greater than $75.00, which expired at 11:59 p.m., New York City time, on February 17, 2023.
Based on the preliminary count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 2,739,726 shares of InterDigital’s common stock, $0.01 par value per share, were properly tendered and not properly withdrawn at or below the purchase price of $73.00 per share, including 633,565 shares that were tendered by notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, the Company expects to acquire 2,739,726 shares of its common stock at a price of $73.00 per share, for an aggregate cost of approximately $200 million, excluding fees, expenses and excise tax relating to the tender offer. The 2,739,726 shares that the Company expects to accept for purchase represent approximately 9.2% of the Company’s shares outstanding as of February 17, 2023. As such, the Company has been informed by the depositary that the preliminary proration factor for the tender offer is approximately 95.07%.
“We believe that the tender offer demonstrates our commitment to returning capital to our stockholders, as well as an opportunity for our stockholders to obtain liquidity in part or all of their shares of our common stock,” said Liren Chen, President and CEO of the Company. “With a substantial cash balance and $200 million remaining under our recently increased share repurchase authorization, we believe that we remain well-positioned to continue to return capital to our stockholders following the completion of the tender offer.”
The tender offer was announced by the Company on January 23, 2023 with a price range of $60.00 to $69.00, and was amended on February 6, 2023 to reflect an increased price range of $65.25 to $75.00.
The number of shares to be purchased and the purchase price are preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the two trading day settlement period. The final number of shares to be purchased and the final purchase price will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the shares accepted for purchase under the tender offer, and return of all other shares tendered and not purchased, will occur promptly thereafter.
The Company may, in the future, decide to purchase additional shares of our common stock (or shares of securities convertible into or exercisable for shares of our common stock) in the open market subject to market conditions and private transactions, tender offers or otherwise subject to applicable law. Any such purchases may be on the same terms as, or on terms that are more or less favorable to stockholders than, the terms of the tender offer. Whether the Company makes additional repurchases in the future will depend on many factors, including but not limited to the Company’s business and financial performance and situation, the business and market conditions at the time, including the price of shares of the Company’s common stock, and such other factors as the Company may consider relevant.
Certain Information Regarding the Tender Offer
The information in this press release describing the tender offer is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell shares of common stock in the tender offer. The tender offer was made only pursuant to the Offer to Purchase and the related materials that the Company filed with the SEC, as amended or supplemented. Stockholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, D.F. King & Co., Inc., toll-free at (800) 549-6864.
it was close to 30% of total shares outstanding that were sold....thats not a rebalancing
and bingo was his namo
teecee56, some of it was due to fund rebalancing. IDCC closed $40.42 on Sept 30 and closed $49.48 on Dec. 30.
B of A Analyst report?
what happened in the 4th qtr to cause institutions to sell 8.5myn shares?....i have a good idea...anybody want to venture a guess?
im not sure i trust this data....if this is the case...id say these boys missed out on a big move in the stock....wonder where all these shares went??
Findings from InterDigital Inc. Yields New Findings on Telecommunications (Facetunegan: Face Autoencoder for Convolutional Expression Transfer Using Neural Generative Adversarial Networks): Telecommunications
[ NewsRx.com/Telecommunications Weekly]
Released: Monday, February 13, 2023 12:00 AM2023 FEB 13 (NewsRx) -- By a News Reporter-Staff News Editor at Telecommunications Daily -- Current study results on Telecommunications have been published. According to news reporting from Paris, France, by NewsRx journalists, research stated, "In this paper, we present FaceTuneGAN, a new 3D face model representation decomposing and encoding separately facial identity and facial expression. We propose a first adaptation of image-to-image translation networks, that have successfully been used in the 2D domain, to 3D face geometry."
Financial supporters for this research include French National Research Agency (ANR), European Commission.
The news correspondents obtained a quote from the research from InterDigital Inc., "Leveraging recently released large face scan databases (FaceScape and CoMA), a neural network has been trained to decouple factors of variations with a better knowledge of the face, enabling facial expressions transfer and neutralization of expressive faces. Specifically, we design an
adversarial architecture adapting the base architecture of FUNIT and using SpiralNet++ for our convolutional and sampling operations. Applied on these two datasets, FaceTuneGAN has a better identity decomposition and face neutralization than state-of-the-art techniques."
According to the news reporters, the research concluded: “It also outperforms classical deformation transfer approach by predicting blendshapes closer to ground-truth data and with less of undesired artifacts due to too different facial morphologies between source and target.(."
This research has been peer-reviewed.
For more information on this research see: Facetunegan: Face Autoencoder for Convolutional Expression Transfer Using Neural Generative Adversarial Networks. Computers & Graphics, 2023;110:69-85. Computers & Graphics can be contacted at: Pergamon-elsevier Science Ltd, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, England. (Elsevier - www.elsevier.com; Computers & Graphics - http://www.journals.elsevier.com/computers-and-graphics/)
Our news journalists report that additional information may be obtained by contacting Quentin Avril, InterDigital Inc., Paris,
France. Additional authors for this research include Nicolas Olivier, Kelian Baert, Fabien Danieau and Franck Multon.
HPA 2023: Advanced HDR by Technicolor Offers Efficient and Cost-Effective Path to Enhancing Production and Distribution of Live, Episodic and Theatrical Content
by PRNewswire
February 20, 2023 7:15 PM | 4 min read
The Advanced HDR by Technicolor team demonstrates its latest solutions to enable the transition from today's complex environment to an all-HDR future in a creatively faithful, technically viable and economically rational manner.
PALM SPRINGS, Calif., Feb. 20, 2023 /PRNewswire-PRWeb/ -- Significant new developments in the conversion of standard dynamic range (SDR) content libraries to high dynamic range (HDR) along with the distribution of live broadcasts -- especially sports -- are opening new frontiers of opportunity for the entertainment technology industry. So say Marty Gordon, vice president of brand partnerships at Philips, and Nick Mitchell, media solutions specialist with InterDigital in a podcast interview for journalists held during the HPA 2023 Tech Retreat this week in Palm Springs Calif.
HDR, explains Gordon, is making rapid progress in replacing legacy SDR as the next generation of TVs, streaming services and broadcast technologies enter the market.
"HDR is already a mainstream element in the development of episodic and cinematic productions, which is why analysts at Allied Market Research are projecting that the high dynamic range market will reach $126.74 billion (US) by 2030," says Gordon. "High dynamic range -- and many of the immersive formats we're seeing emerge in the industry -- amplify the creative palette. This ultimately results in a more immersive and impactful experience."
HDR specifically enables a broader range of colors and brightness offering new ways to control the viewing experience much more succinctly on screen. This means the contrast between the darkest darks and the brightest whites delivers a more lifelike, vibrant image. The greater nuance in bright and dark shades helps preserve detail, so the experience is far more immersive, engaging and life-like for consumers.
"For consumers, HDR absolutely provides a point of differentiation. When it comes to HDR, seeing really is believing. Once consumers experience HDR, it is very difficult for them to go back to standard dynamic range. Today, more and more consumers are hungry for premium in-home entertainment experiences, and HDR is increasingly seen by consumers as integral to meeting their growing expectations," says Mitchell.
A Technically Elegant and Cost-Effective Path to HDR
The key question on the minds of the entertainment technology ecosystem -- across the spectrum of content production, distribution and consumption -- is how to manage the transition from today's complex environment to an all-HDR future in a creatively faithful, technically viable and economically rational manner.
"It is important to understand the available content and the devices content providers and developers want to target. For studios with large libraries of material, ensuring that an HDR grade is available on all of the content in their portfolios can be incredibly costly and time-consuming if it is not approached in a strategic manner," explains Mitchell.
Another critical factor to consider while conducting these conversions is the ability to preserve the creative intent of the content. This is always important when dealing with content libraries. But it is also critical as the business models for digital entertainment distribution evolve.
"For instance, if the conversions from SDR to HDR are being performed in the context of advertising supported delivery environments, it is critical to take into account the intent of brands or advertisers who may play a role in the financing or the budgeting of that content," he cautions.
Putting Advanced HDR by Technicolor into Context
Advanced HDR by Technicolor, which features a unique intelligent tone management (ITM) toolset, enables high quality, dynamic, and real-time expansion of standard dynamic range to high dynamic range that preserves that creative and brand intent.
"Known as the SL-HDR format in the technical and standards-setting communities, Advanced HDR by Technicolor provides broadcasters and distributors with a single inventory distribution format to serve both SDR and HDR devices without any creative compromises. It saves infrastructure and delivery costs along the way," says Mitchell.
The single stream production and distribution features of Advanced HDR by Technicolor make it a cost-effective solution for ensuring that the highest quality productions maintain their integrity across today's heterogeneous SDR/HDR environment.
"During HPA we are planning to have conversations with streamers, advertisers -- really anybody that is using streaming technology -- to help people understand where Advanced HDR by Technicolor can be put into place to enhance the services they offer and the value they deliver to consumers around the world. It's really important for leaders in the creative community to understand that HDR is an entertainment technology that will elevate value delivered to consumers in a cost-effective manner," concludes Mitchell.
To learn more, visit: https://bit.ly/QA-NickMitchell
Media Contact
Airrion Andrews, Advanced HDR by Technicolor, +1 202 669 7416, airrion@mindsharecapture.com
SOURCE Advanced HDR by Technicolor
https://www.benzinga.com/pressreleases/23/02/n30979836/hpa-2023-advanced-hdr-by-technicolor-offers-efficient-and-cost-effective-path-to-enhancing-product
Paullee, I am on a computer running Windows. First, I line up the columns using notepad (notepad.exe). I then cut/paste the formatted table of numbers in notepad into a new Investorshub message post, highlight the whole message text in that new post, then select the "Pre" formatting option to the left of the new message text to preserve the format of the table in the new post. I then select the Preview button just to confirm the format of the new message will be preserved when posted.
Montey, great
can you explain how you reformatted that, I have never figured it out
Paulee's message reformatted to be easier to read..
..
30-Dec-22 inc/dec 30-Sep-22
BlackRock Inc. 5,117,381 (1,874,410) 6,991,791
Vanguard Group 3,474,662 (2,912,558) 6,387,220
FIL Ltd 1,150,976 1,150,976 0
State Street Corp 1,027,006 (1,176,836) 2,203,842
Dimens'l Fund 966,699 966,699 0
Disciplined Growth 791,400 791,400 0
Boston Partners 711,431 711,431 0
Renaissance 676,911 676,911 0
Boston Trust 615,013 615,013 0
Geode 561,714 (1,418,252) 1,979,966
Shannon River 491,748 491,748 0
B of N Y Mellon 446,559 69,139 377,420
Neumeirer 444,070 444,070 0
Capital Mgt 398,159 398,159 0
D. E. Shaw 393,159 93,207 299,952
Chas Schwab 386,379 (432,211) 818,590
Northern Trust 330,526 (665,308) 995,834
Interesting ownership changes
30-Dec-22 inc/dec 30-Sep-22
BlackRock Inc. 5,117,381 (1,874,410) 6,991,791
Vanguard Group 3,474,662 (2,912,558) 6,387,220
FIL Ltd 1,150,976 1,150,976 0
State Street Corp 1,027,006 (1,176,836) 2,203,842
Dimens'l Fund 966,699 966,699 0
Disciplined Growth 791,400 791,400 0
Boston Partners 711,431 711,431 0
Renaissance 676,911 676,911 0
Boston Trust 615,013 615,013 0
Geode 561,714 (1,418,252) 1,979,966
Shannon River 491,748 491,748 0
B of N Y Mellon 446,559 69,139 377,420
Neumeirer 444,070 444,070 0
Capital Mgt 398,159 398,159 0
D. E. Shaw 393,159 93,207 299,952
Chas Schwab 386,379 (432,211) 818,590
Northern Trust 330,526 (665,308) 995,834
jealmc79, Yes when you own an option you can enact anytime at any price. In your example you can do it if you have an extra $85M on you but the only way you are guaranteed to get the shares is the way they did it. When you sell an option whoever owns it may or my not deliver. It does happen, I usually have about 50 sold options a year in the money that they do not enact. I can not tell you why, but they do not enact them. If you look at December options, they show a bias to the upside.
Vegas, Just cause the call options are out of the money doesn’t mean their worthless. What happens if you bought the $85 call options and on the day of expiration the stock is at $84. What keeps you from exercising them just before closing on expiration forcing the guy who is short to deliver the million shares. Actually, the calls are your guarantee that he delivers those shares. Don’t know that he would be required to deliver the puts shares even though they are below the strike price and supposedly worth something something to the short position. How does he come up with 2 million shares by settlement day?
It was spread across many bars and golf locker rooms. First ballot.
vegas.... a trade like this is used for purpose of leverage.....think about it....you can control a million shares and generate a positive cash balance....but you still need to have a large marginable portfolio to back up the margin requirements of being a put seller ..which are substantial....its definitely a hedge fund type trade....if you're the dealer your main thing is the financing rates along with the time decay and the underlying volatility...and thats all baked into the spread between the current price of the stock ...and what was paid synthetically .my guess is the dealer is now clear or fully hedged.....most likely he had a working order....as it was done in pieces and at different strikes.... the risk now lies with the put seller...because he is long the stock...fancy shooting....thanks for pointing it out to the crowd
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