I couldn't stand it. I was too exposed on GRMN and put a collar on my long position. The Nov80 puts were just too cheap to pass on. I have no idea if GRMN will offer a higher bid for Tele Atlas or not and I would be a fool in not hedging.Nothing like waiting until the last minute, but it has worked out for me. If the stock takes off tomorrow on good news, then I wasted a few bucks. Otherwise, my protection will actually pay off handsomely.
You can buy a lot of puts for $0.30 per contract and the reward is outstanding.
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