Hi, Stizzer,

As to the call prices, your .37 is not far off. Right now, I checked and the Jan 2014 $5 calls are going for .34-.36, and you're right, you can't go off that "last column" quote, that's misleading for the reason you cite.

"I don't know if I would expect to get any in the .40-.50 range." I doubt it, too, my guess is .70 to .80, but I won't buy them for that much, as I already have warrants; but in the .40 to .50 range, they might be a bargain, so that's where my interest will be piqued.

Jan 2013's at $5 strike are pretty cheap - I could see gambling on a buyout announcement before that time - a real longshot, for sure, but what if the buyout price is $7 - you'll get a 50 to 1 return at .04!! However, my guess is that the odds of a buyout for over $5 by then are well over 50 to 1.

Good luck!