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I think the short sellers are now attacking MNK to bring down the effective takeover price. I am still holding out for 84 but might settle for a bit lower in the next few days if they push MNK down enough. I am planning to retain part of my position even after the takeover as the QCOR section should do very well with the lower Irish tax rate.

I am also going to let my short puts slowly expire unless their internal rate of return drops below 5% p.a.

I am also slowly increasing my DOTM short put position in NQ (strikes of 10-12) and GALE which I am fairly confident in as a part of the shift away from QCOR. GALE is very risky in the short term IMHO but my reasoning is that cheap shares picked up under 2 or 2.5 have a superb lottery built in in the form of the Neuvax phase 3 trials. My guess is that shares could easily break 10-20 if that becomes successful and the effort would be worth it even if took a couple of years for that to happen.
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