Attention, those of you who own Blue Nile Inc. (NILE): NILE has been acquired by Bain Capital. The acquisition included a buyout of $40.75 for all outstanding shares of NILE. Because of this transaction, you should Transmogrify your NILE position on Trade Day, if necessary. If the $40.75 buyout amount was above your average cost, there is no need to Transmogrify.
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 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 login to TradeKing to place two orders to complete the Transmogrification process:
- Buy the same amount of shares for your new stock as you previously owned in NILE
- 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.
If you have any questions, please don’t hesitate to contact us at firstname.lastname@example.org or 1-888-6-SNIDER. We’ll be happy to walk you through the process.