Druff

Does Ackman and General Growth Properties Have Anything to Do with Target?

Around 75% of the dollar value of his $2B original investment was purely in options, with ~90% in the form of derivatives. If he had bought entirely stock he'd have paid $4.9B but is able to show the same amount of "ownership" with only $2B. All but 1 batch of options have expiration dates in b/w October 2008 and April 2009. From what i can see he bought all 79.2M options on 8 distinct trading dates.

Watch out dude. By April, his position in TGT will have blown up completely due to the options expiring out of the money. He is now just doubling down.