Big bet June 17th options

[davidhmtk]

Someone (using AMEX) Bought 4,000 contacts 40 calls at ask (12:38), sold? 4,000 puts at 25.  Net cost .05/sh or $20,000 to control almost 1% of the company above $40

[Putncalls]

There seems to be a 44$ buyout rumor. That would suck!

[TomCrooz]

There seems to be a 44$ buyout rumor. That would suck!

That would be a 50% PREMIUM to yesterday's close.  Would be what I'd expect the first offer to be.  Great for people who recently bought for 26.....not so great for most.

[freddiekingman]

Some just bet on the wrong horse....

[Putncalls]

What it is would be fraud.

[2126]

If that is an actual bid ($44), it would never be accepted as such. Recall that IOC enacted a poison pill on April 24, 2013 (IOC Shareholder's Rights Plan Agreement)since amended slightly) that would allow IOC various measures to thwart any lowball buyout attempt. Additionally, large institutional shareholders that have held IOC long-term would never accept such a ridiculous price (which gives no or very little credit for the impending interim resource payment). Don't stress over idle speculation too much.

[Tree]

If true, a formal bid presented to BoD triggers a big Hession payday. Half of what he is due with a change of ownership, Frim memory. Regardless of the outcome.

[Palm]

Such a bid presented to the BOD and recommended to shareholders would trigger the fitty % payday.

[Putncalls]

How could he present a 44$ offer to the board? He would be pilloried forever!?

[Palm]

He wouldn't present it. The offer this pertains two is an offer made to the BOD which they would consider feasible and then recommend to Shareholders.