May be worth looking into call and put options if settlement would come down to getting shares of JPM "restricted".
Just for example: say wamuq shares get exchanged for JPM shares while JPM was trading at $40. one could "Sell" Jan 2011 JPM $45 call options (for amount of shares you own) and use the money to "buy" a Jan 2011 JPM $37 puts (for amount of shares you own). Basically, you'd be locking yourself out of any losses on JPM stock below $37; however, you'd also be locking your self out of any gains above $45 -- until options expire on Jan 2011.
Note that I've never held a bankruptcy stock until Wamuq, but I would think you could sell covered calls etc. once JPM shares become yours. Doing the above example would hedge your profits if you think JPM going to crash. Other factors such as timing of settlement vs. when wamuq stock became JPM stock would come into play if we saw a massive sell off of JPM......Just some things to think about in terms of possibly locking in profits if a stock swap occurs with restrictions. I'm sure there are many on this board with more experience than I that could add more input to using options or other means to lock in profits if we get stuck with JPM shares that we can't sell for certain period of time.
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