ASX 1.00% $59.48 asx limited

I was hoping someone could assist me. I have sold June 2011 $38...

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    I was hoping someone could assist me.

    I have sold June 2011 $38 ASX PUT options

    I am wondering the effect of the potential merger with SGX.

    - Assume the merger goes through in current form then would this option contract expire worthless?


    - Another scenario: say a company was going to buy out ASX for cash @ $48.00 per share would I be right in saying that the options would also expire?

    - What it the buy out price was $36.00 where my PUT options which I have sold are $38.00 ? what would be the effect then?

    Thanks, appreciate your assistance.

 
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