DRS Technologies... A Goooo...

Well, the only good news today is that DRS Technologies (Ticker: DRS) received approval from CFIUS. This deal should close at the end of next week with shareholders receiving $81 per share in cash.

Damn, I don’t know what I was thinking, but I accidentally closed out my covered call trade in Goldman Sachs (Ticker: GS) (the one with the November 95 strike price). I ended up with a 24% gain in this trade, but if I done nothing it was an easy 30% gain.

I picked up a bit more Foundry Systems (Ticker: FDRY) in another arb play. In this one, you’ll receive $18.50 in cash plus 0.09 shares of Brocade (Ticker: BRCD). This is one of the more solid deals with a good chunk of the financing already in place. This should close after the Foundry shareholder vote next week.