Rock Creek Pharmaceuticals Inc. (fka RCPIQ)

[A Dinosaur]

I think your options would still be on Star. The value of Star would probably be enhanced if they sold the division, reduced if they spun it off. I suppose it's possible to split the value of an option and issue partials for both companies, but I've never heard of it being done. My experience with that has been for large cap companies where the spin-off had a minor effect on the company's value. That actually increased the perceived value of the parent. Folks thought it was developing new companies and increasing its long-term value.

Darn good question, especially since I'm holding a bunch of January calls.

Dino