Attention, those of you who own OmniVision Technologies (OVTI): OVTI has taken itself private. As a result, there is very little price volatility for shares of OVTI, which has resulted in a lack of option premium for the position. Therefore, we recommend you transmogrify your position in OVTI into a more appropriate position as soon as possible.
Please note: if you are able to sell your shares of OVTI at the market price and still maintain a profit for the position, it will not be necessary for you to transmogrify the position. You may simply sell the shares and close the position accordingly.
We’re here to help! Here is a link to the Transmogrification document that will tell you step-by-step what to do.
LattcoPRO clients: please give us a call after you have completed the sale of your OVTI shares, and have purchased your new position and sold options for it. There are some adjustments that we will need to make on the back-end so that your account properly reflects the transmogrification. Please also note that you will not need to complete steps #5 and #6 in the Transmogrification Document .
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.
