Attention, those of you who own DISH Network Corp (DISH): DISH declared a rights option on November 17, 2019, allowing owners of DISH to purchase additional shares of the position at a price of $33.52 per share prior to December 9, 2019. You can read more about the rights offering here.
As a result of this offering, all option contracts outstanding on DISH have had their ticker changed to DISH1, and currently represent 100 shares of DISH stock plus the rights to purchase 5 additional shares. You will also notice an entry for the rights that you received as part of this declaration in your account holdings.
At this time, we are not recommending any action be taken with regards to the rights received by any client who owns DISH. Following the expiration on December 9, the rights will be removed from your brokerage account, and the outstanding option will revert back to the standard 100 shares per contract.
If you have any questions regarding the rights offering, please do not hesitate to contact us at 1-888-6SNIDER or at email@example.com.