sinceIMM- Sorry, but I have no "insightful commentary" to offer concerning the good question you bring to the forum. I haven't been watching the options action as closely as I used to and don't know how many contracts were in the money for expiration on Friday. Volume of 2.04 million shares changing hands on Friday must be related to both options active together with the convertible bonds eligible for exchange this month. Also, at play are the warrents that IDCC controls as a hedge against dilution, and in my opinion, there is not enough information available to really understand how they function. [Sure could use input from Teecee56 about this].
Until the next quarterly SEC Q filing, I'm not sure how to fill in the blanks, like:
* Have all of the convertible bonds been exchanged? [technically the bond holder has untill maturity to surrender the bond but due to the difference in the coupon rate and current corporate interest rates that are available now I would imagine all of the bonds will be submitted by the end of June].
* Have all of the warrents that IDCC owns been exercised? How many remain to be exercised, and how long does InterDigital have to use any remaining warrents?
* Has InterDigital replaced the converted bonds with any new types of debt, such as a line credit or a new bond issue?
* What is the remaining cash balance in the authorized stock buyback?
The third and fourth quarters for InterDigital hold a few wildcards, like:
* Lenovo appeal ruling
* Samsung arbitration finalized
* Avanci/ Tesla litigation
* Ublox litigation
* Oppo litigation
* Sony partnership - Are more license agreements in the pipeline?
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