"I don't understand what is meant by "Friday's short close". Why do they need to "cover" their shorts by this Friday????"
I am no expert, but my understanding is that options traders short PDN, with options having a fixed end date. If somebody sells an option to buy at a certain price by a specified end date, then if the sold 'option to buy' is in the money by the end date, then the person that sold the 'option to buy' needs to either already own the shares, or quickly buy the shares on-market so they can sell them to the 'option to buy' holder at the pre-agreed price. The converse is true for shorts. Google 'puts and calls for dummies', not that I am saying you are a dummy.
If CNNC completes the deal to buy 25% of LH, then CNNC will cop 25% of the LH ongoing losses. Is this assumption correct?
PDN Price at posting:
56.0¢ Sentiment: None Disclosure: Not Held
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