Seeking Alpha
  • Husky Financial
    Is anyone familiar with CIT and their exit from bankruptcy? Went from 0.25/share to $30 in a month .. is a similar move possible with AAL?
    11/29/11
    Reply (8)
    • Canary Cash: I think it is, as a case for Gov intervention but macro could make it impossible. How long did CIT take to emerge?
      11/29/11
    • Seeking Alphalfa: CIT shares went to $0 - as will AAL - will reorganize with new shares.
      11/29/11
    • Canary Cash: options still work in this scenario right Alphalfa?
      11/29/11
    • Seeking Alphalfa: Not sure what you mean . . . today's options are relevant to today's shares not to reorg shares.
      11/29/11
    • Canary Cash: that's what I mean. thanks :)
      11/29/11
    • Seeking Alphalfa: Today's calls will go to zero -- and puts will go to strike (with some small time discount).
      11/29/11
    • Husky Financial: hmmmm interesting... i was always baffled at the CIT 09 chart but never did the hw into it
      11/29/11
    • Clayton Rulli: nope.
      11/29/11