By Paul Price
The announced takeover deal with ThermoFisher Scientific (TMO) should allow us to close our LIFE Jan. 2014 expiration put very cheaply and nine motnths early.
We've placed a GTC (good till cancelled) order to close our Jan. 2014 $55 strike contract for $0.25 /share. We had sold the put for $4 on 2/25/13.
We'll free up our capital early while capturing 93% of the maximum gain possible had we waited until expiration date next January.
See the entire Virtual Put Selling portfoilio here ...
NOTE: Our order was filled immediately once the market opened. This trade will now be marked as closed at 25-cents per share as of April 15, 2013. LIFE shares opened at $73.33 and our puts traded at our limit of 25-cents.
Click to enlarge for easier reading...