Chesapeake Energy Corp (CHK)

[woodtiger]

CHK is being delisted from the NYSE so it will either end up trading in the OTC penny stock market someday or never trade again which would level shareholders with nothing. So for the ones holding puts do you know what's happening with your puts yet because of the delisting which means the puts are delisted and you get the full value of the options but what does that mean? Do you get the full value you initially paid for the option or do you get paid the price based on a zero price? Also how long do you have to wait for this process to be done and receive the cash credit to your brokerage account? I actually sold my puts on Friday afternoon so I'm kicking myself now but want to know what would have happened had I held them till today. Here is a link to the article about the delisting of CHK. It looks like either way this is bad news if you are in a long position. There will be no Ka-Boom for you those of you kept touting that instead of looking at what happens to most publicly traded companies that file for bankruptcy whether ist's chapter 11 or 7 to the common shares. You can't say I tried my best to warn you who did just the opposite of what I told you could or would most likely happen. I even didn't expect a immediate delisting from the NYSE.

https://seekingalpha.com/news/3586882-chesapeake-suspended-nyse-de-listing-to-begin