Grones
Next week all who sold the calls and about 500,000 shares was sold below the $25.00 strike price. Anyway all who sold the calls even if they are covered will lose their stock automatically. The call buyers will automatically have the stock added to their account. Now do the buyers keep the stock or sell it is the question?
The other question is all the sellers of the call options have to lose their shares, so do they go into the open market and buy back stock. They didn't cover by buying the call options back, so they have just 2 choices buy back the stock or just be out the stock and move on to another stock to sell calls against.
The recent buyers of DEC calls all at any strike price should have a profit. The ones who paid around $.30 for the $25.00 calls did very well as some probably sold the calls or the stock over the $26.00 level, smart move if they did.
Anyway the direction of the stock Monday should be what does the call buyers do with their stock. I personally think that most will keep the stock and the sellers of the options and the shorts will push the stock higher. It appears that the January Samsung event will also encourage new buyers prior to the event. I sure would love to see Sony Ericsson announcement before year end, or even Nokia, but the Nokia announcement I don't expect and never did until Samsung is done.
All of this is my opinion.
Mickey
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