Monday, June 06, 2022

Turning Point Therapeutics & Anaplan

The arb game is starting to get interesting once again. I really like the risk reward with Turning Point Therapeutics, which is being acquired by Bristol Myers for $76 in cash via a tender offer. Bristol Myers is good with the cash, and I really don’t see any regulatory issues with this deal. Right now this is offering a mid-teens annualized return. Lots of ways to play this via common and / or options.

I was very close to initiating a position in Anaplan last week. I got lucky in holding off as Thoma Bravo just cut its price for Anaplan to $63.75 from $66 per share in cash. I did not expect this at all. They are still targeting a close by June 30th, but this deal is getting a bit hairy. I can see a bunch of unhappy Anaplan shareholders. Will they vote Yes to the revised deal? Probably… 

I have a position in Turning Point Therapeutics and may play small with Anaplan.


At June 11, 2022, Anonymous Anonymous said...

Can you go in details on your put selling strategy on tsla. I am trying to sell OTM but feel the way it trades I might get called away. Do you sell weekly or monthly and which strike you use?

At June 13, 2022, Blogger Money Turtle said...

I've been selling way out of the money weekly puts (~ 20-30% out of the money).


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