Sino-Forest Corporation (SNOFF)

[Sibware]

From TRE Board OSC decision welcomes organized crime

Any put holders who do not have stock against them, one for one, you are out of luck even if the OSC variance goes through. Meaning if you're long 10 puts you must be long 1000 shares as well or you can't exercise your puts. I would be very pissed if I had a put 15 dollars in the money declared worthless. It's a travesty and will hurt Canadian market confidence.

Organized Security Criminals:

Organized Crime Derivative playbook

1. own the underlying asset common shares
2. buy an out-of-the-money put to protect the downside
3. finance the put by writing an out-of-the-money call that caps potential profit on the upside.

Ontario Securities Commission decision about Sino-Forest put contracts just put our country as the easiest country to bear raid. While our 13 regulators plan their medical leaves organized crime have just found their safe haven.