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I have held ABSC in a self directed IRA for some years. I have been very happy with it since I sold some shares for enough to cover all costs of original investment plus a nice return. Then I sold options on the shares remaining in the IRA. So now I have shares with a no cost basis. NICE.

Does anyone have an opinion about the options play on this merger. Recently I sold calls on ABSC - option symbol udagw at 2.95 - prior to the merger announcement. If I had known about the merger I would have waited. Now, I am considering selling puts in my IRA to a cash position. Since the deal is not done until sometime later - 6 months - and could not make at all, which might be the more prudent trade.
1. for gaining the stock or,
2. for keeping the premium.

Any opinions or analysis are appreciated.

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