Sold Argon ST

Ok, one more sell to finish out the day. I sold Argon ST (Ticker: STST) today at $25.30 generating a 1.85% return over a 52 day period. This translates into a 12.99% annualized return, which is a horrible return for a risk arb play. In the risk arb game, you shoot for at least a 20% annualized rate of return. Again, I evaluated the risk and it was a bit high with no certain offer(s) in hand.