The October options stop trading on Friday the 15th.
From the Financial Times via StreetInsider:
The government's plans to sell all of its 7.7 billion common shares of Citigroup (NYSE: C) by year end may have been too ambitious, as slowing trading volume has impacted the Treasury's sale plan, the FT.com reported.
"The sales of
Citigroupstock have slowed way down in July and August ," Linus Wilson, a professor of finance at the University of Louisiana, said. "The only option for the Treasury if it wants to exit Citigroup before the year-end seems to be to conduct a large secondary offering of the stake."
By the end of August, the government has sold less than half of its 7.7 billion shares, the report noted.
The government's current trading plan is set to expire on September 30, with or without it being completed, ahead of a quite period for third quarter earnings which is expected to begin on October 1.
Earlier in the month, StreetInsider.com reported that the government was nearing completing the sale of its latest 1.5 billion traunch. Even if the government completed the full sale of this traunch on time, it would still leave them with 3.6 billion shares remaining to sell before year end....MORE