Definition of volatility
$Broadcom (AVGO.US)$ only took the last 18 minutes to decimate the days gains that seemed to be grinding up so painstakingly.
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Lucky Dog An : Seems like it's killing call options...
R30R OP Lucky Dog An : Possibly. A little of me is still hopeful for a rally tomorrow as the owning deadline for an additional 9 shares is tomorrow (11 July).
Lucky Dog An R30R OP : Is the split day next Monday and the registration day is Friday?
R30R OP : Yes, split is Monday. But you need to own the shares on or before 11 July. Buying on Friday will be too late.
103172898 R30R OP : It's not too late on Friday, you only need to buy before 7.15
R30R OP 103172898 : That’s interesting. Is that 7:15 am on Friday, 12 July?
I didn’t see any mention of time in any of the comms. They all say close of Nasdaq stock market (which I believe is 8 pm when the Overnight Market kicks in).
My interpretation:
You need to own shares by “Record Date” (11 July). Allocation will happen on “Effective Date” (12 July) and the new shares can be traded on Monday, 15 July.
Friday may be too late to buy.
71183944 R30R OP : If you only buy 1700 on Friday, won't Monday give 170×10?
R30R OP : Well, technically the comms says you need to hold (or buy) the shares before close of Nasdaq on 11th July. If you bought the shares for 1700 by the time, then on Monday you get 9 additional shares. The value of the shares will be whatever the price of AVGO is on the day. So if the price becomes 1800, then you will have 180 X 10.