Baby Boomer Update: Noble Corp. (NE) Assignment
Update #085 09/19/2014 9:19 PM EST
BABY BOOMER: ASSIGNMENT, Noble Corp. (NE)
We sold short the NE Sept $31 put. We will be assigned NE as it is below $31, and its September options expiration.
NE spun off its contract
drilling services company, Paragon Offshore Limited (PGN), and NE
shareholders will receive one share of PGN for every three shares owned
of NE. This means an owner pf 100 shares would receive 33.33 shares of
The record date to
receive PGN shares was July 23, we recommended NE in our May newsletter.
PGN first trading date was August 4, 2014.
We will be assigned 100 shares of NE and 33.33 shares of PGN.
The current value of NE is about $24.15. The current value of PGN is about $6.59.