Replies to post #17251 on Options Wonderland

[langlui]

I *think* Apple needs to hold $140, if not, it's going to crash to $137 and below

[3xBuBu]

This is a bearish world
Apple CFO's Converts Restricted Units
Apple CFO Peter Oppenheimer Converts Restricted Units to 250,000 Shares
The senior vice president and chief financial officer of Apple Inc. converted 250,000 restricted units into common stock after they vested this week, then sold a portion of the shares under a prearranged trading plan, according to Securities and Exchange Commission filings Wednesday.

In Form 4s filed with the SEC, Peter Oppenheimer reported 250,000 units vested on Monday. On Tuesday, he sold 136,341 of the shares for $138.28 to $139.79 each.

Oppenheimer also surrendered 113,659 shares back to the company for $139.53 apiece. Insiders can surrender shares as a way to cover either taxes or the cost of exercising options.

http://money.cnn.com/news/newsfeeds/articles/apwire/16718251247c279bf1b352c09839ea7c.htm

Bear Stearns Chairman sells $61.3 million of stock

James Cayne, Chairman of Bear Stearns Cos Inc (BSC.N) sold $61.3 million of his shares of the company according to a filing on Thursday, signaling the bank's shareholders are unlikely to get a higher price for their shares.

JPMorgan agreed earlier this week to increase its original bid for Bear Stearns, which had faced a run on the bank and was close to collapse.

Some investors were clearly hoping JPMorgan Chase would increase its bid again, or that Bear Stearns would find another buyer, because Bear Stearns shares closed on Thursday at $11.23 on the New York Stock Exchange, about 20 percent above the current value of JPMorgan's offer.

If getting a higher price were likely, Cayne would be unlikely to sell his shares.

Bear's share price fell about 5 percent in after market trading to $10.68. The share sale took place on March 25 but was disclosed in a document after the market closed on Thursday.

The 5.66 million shares Cayne sold would have been worth about $1 billion last year, when Bear's share price peaked at over $170.

JPMorgan Chase's sale is expected to close by mid-June, assuming a majority of shareholders approve it.

The banks helped ensure the deal would be approved earlier this week when JPMorgan agreed to buy 95 million newly issued Bear Stearns shares, equal to a 39.5 percent stake in the company.

Bear's board members agreed to use their shares to vote in favor of the deal. It is not clear who bought Cayne's shares.
http://news.yahoo.com/s/nm/20080327/bs_nm/bearstearns_cayne_dc_2