Idenix = Done Deal

Merck (Ticker: MRK) completed its tender offer for Idenix Pharmaceuticals (Ticker: IDIX) for $24.50 in cash yesterday. I sold some (actually a good amount) of the January out of the money Puts and those will expire on 08/16/14 via accelerated option expiration due to the closing of the deal. I hope to see more of these types of deals in the future. Anyways, I’ve been raising some cash to ride through this volatile period.