Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.
We need to make sure there is a way to make Surprise (and any others in this position) whole.
The first Google hit I found for what happens to an option following a stock split, is here:
http://www.investopedia.com/ask/answers/03/092103.aspThe answer might help us figure out a solution.
This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading. The option owner are placing there bets and it up to them to guess right on the timing. As an option trader myself I understand their concerns.
I made the options trades before any of the merger announcements on the basis of the existing AMC description on both exchanges and previous statements from Ken on this forum. I'm concerned in 2-3 months there won't be anyone to buy my AMC shares or any way to exchange them for VMC shares. I hope I'm not going to get punished for taking Ken at his word.