Jana Partners, the activist firm that has been pushing for a sale of PetSmart (NASDAQ: PETM) disclosed in a 13D filing that it received an anonymous, unsolicited package containing a presentation believed to be prepared by PetSmart management.
A cover letter was included with the presentation, which noted the company "missed internal projections and criticizing the Issuer's actions including those described int eh Presentation as not being in the long-term best interest of shareholders.”
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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Jana Partners stated that documents such as these should be shared with all shareholders, in the interest of full disclosure.
The full letter can be seen here.
Shares of PetSmart were trading at an intra-day high of $69.45 before the news broke. Shares fell to a daily low of $67.92, but were last seen trading at $68.82, up 0.47 percent.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.