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Two Harbors (TWO) trades down $0.91 to $12.65 as it goes ex-dividend for the distribution of...

Two Harbors (TWO) trades down $0.91 to $12.65 as it goes ex-dividend for the distribution of stock in SilverBay Realty (SBY +4%) to shareholders. SilverBay's big move higher today (equivalent to a dollar for every share received), already puts owners ahead on the transaction.
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Comments (2)
  • WhitneyB
    , contributor
    Comments (578) | Send Message
     
    That's nice that somebody is treating the SBY stock as a "dividend", and not a "stock split", because today the TWO puts I bought yesterday are all being reassigned to a new symbol (TWO1) requiring me to also sell 4 shares of SBY for every 100 shares of TWO if I want to exercise the put. Any ideas on how to get some redress for this dilemma? If the TWO special "dividend" had been cash, do you think it would be fair to amend my put to reflect my right to sell 100 shares plus deliver the $80 dividend in exchange for the strike price of the put??? What a mess.
    28 Mar 2013, 12:59 PM Reply Like
  • Skymist
    , contributor
    Comments (21) | Send Message
     
    TWO did not "trade down". It was opened down to adjust for the cash and stock dividend, then it spent all day "trading UP". Use proper terminology.
    29 Mar 2013, 02:22 AM Reply Like
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