Attention, those of you who own Activision Blizzard, Inc. (ATVI): ATVI is the target of an acquisition by Microsoft. The proposed buyout includes a payment of $95 per share for each outstanding share of ATVI.
Because of this proposed acquisition, you should sell your shares of ATVI and transmogrify on Trade Day, if necessary. If the average cost of your shares of ATVI is at or below the current market price, there is no need to transmogrify.
We’re here to help! Here is a link to the Transmogrification document that will tell you step-by-step what to do.
Lattco PRO clients: Please use this link to access the transmogrification document for your accounts. Also, please give us a call after you have purchased shares for your new position and before you sell your options; we will need to make some adjustments to your account to properly reflect the transmogrification.
Lattco AutoPilot clients: At this time, trading screens for Transmogrification are not included in the AutoPilot system.
You will need to log into Ally to place two orders to complete the
Transmogrification process:
- Buy the same amount of shares for your new stock that you previously owned in ATVI.
- Sell to Open a put at the top of the lower band to replace the purchase for the current month if you don’t own 10x your Level
Once this is complete please notify us and we will adjust your
AutoPilot account so that it can suggest the appropriate call option
orders.
If you have any questions, please don’t hesitate to contact us at
support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.
