"The company did not put a deadline on the sale process."

[tarulestheday]

Like you, TA, I am long the stock and short the puts. I had 85 puts expire worthless in the last two weeks of March and have sold 75 for April expiry thus far. Have been doing this for the last two years and believe IOC puts to be my best money-maker ever, a period of some decades. This approach isn´t for everyone, but it sure beats worrying about delays over which one has no control.

Welcome Katytrader. The key to put selling IMO is to not overleverage yourself which is why it has such a negative reputation. I only sell cash secured puts that I am ready and willing to take delivery on (even though I rarely do).