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Enterprising Investor

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Re: vpagano post# 28

Friday, 03/04/2016 9:43:27 AM

Friday, March 04, 2016 9:43:27 AM

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Deal ends up being a $30 per share "bailout" for me.

I actually purchased Digital Cinema Destinations Corp after CKEC announced it would acquire it. DCIN converted into CKEC at $33.89 per share in August 2014. I immediately wrote $35 calls against the position; the goal was to have the shares quickly called away. It never happened. I kept writing calls and collecting premium on the way down.

Merger rumors appeared last March.

AMC is getting a good deal.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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