http://finance.yahoo.com/news/apollo-global-buy-security-services-120702123.html http://finance.yahoo.com/news/adt-being-purchased-apollo-global-124459956.html http://stockcharts.com/h-sc/ui?s=adt Apollo is paying $42 Trade: With ADT at 39.61 April 40/37 bull put spread for a net credit of $40 Yield = 40/260 = 15.4% in 58 days or 97% annualized Probability and expectation irrelevant. Price.............. Profit / Loss......... ROM % 27.75................... (260.00).......... -84.62% 32.02................... (260.00).......... -84.62% 36.52................... (260.00).......... -84.62% 37.00................... (260.00).......... -84.62% 39.60........................ 0.00.............. 0.00% 40.00....................... 40.00............ 15.38% 41.01....................... 40.00............ 15.38% 45.51....................... 40.00............ 15.38% 50.00....................... 40.00............ 15.38% Filled in 2 minutes