EMC / VMWare spinoff
EMC has been on a tear lately, and luckily I own a bunch already of the stock (and have for several years), but with todays spinoff of VMWare (VMW), at an opening price of $50+ share, and with EMC owning close to 300,000,000 shares, thats close to $15B in market value.
EMC's total market value today is just under $40B, and if you back out $5B in cash, and now the estimated $15B of VMWare market value, it makes the stock look a lot cheaper.
In any case, I've bought some Jan'10 15 Calls at 6.60, which to me look cheap. I don't plan on holding them to maturity.
Interested in any other opinions, since I don't actually follow the stock that closely.