Attention, those of you who own Resources Connection Inc. (RECN): RECN has little/no option volume, making it no longer suitable for the Snider Investment Method. Because of the option volume, you should sell your shares of RECN and Transmogrify as soon as possible.
Those of you who have no current outstanding options for RECN may sell your shares immediately, rather than wait for the October Trade Day.
We’re here to help! Here is a link to the Transmogrification document that will tell you step-by-step what to do. If you have any questions, please don’t hesitate to contact us at email@example.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.
Lattco PRO clients: please see this link to find the Transmogrification document that you will use. Also, please give us a call after you have purchased shares for your new position and before your 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 in to TradeKing to place three orders to complete the Transmogrification process:
- Sell your existing shares
- Buy the same amount of shares for your new stock
- Sell to Open a put at the top of the lower band to replace the purchase for the current month
Once this is complete please notify us and we will adjust your AutoPilot account so that it can suggest the appropriate call option orders.