ISLE Revised Final Target Hit for a 12% Profit

The ISLE (Isle Of Capris Casinos) Active Short Trade was bought out by ERI (El Dorado HoldCo LLC), the only other Active Short Trade in the Casino & Resort sector. As such, this trade will be officially closed out at the buy-out price of 23.00, providing a quick (2 week) gain of 11.8% on this trade. Original & updated daily charts:

You can click here to view the details of the acquisition. Eldorado’s bid calls for the Reno, Nevada, casino operator to pay $23 a share in cash or 1.638 shares of Eldorado common stock, as elected by each Isle shareholder, subject to proration such that 58 percent of the buyout would be cash and 42 percent Eldorado common stock. I had also posted the following in the trading room last week:

rsotc posted an update in the group Swing Trading4 days ago

I received a notification of possible borrow/failure delivery on ISLE from Interactive Brokers yesterday shortly before the close, meaning that they didn’t have enough shares to continue to lend out on my short position. They were unable to locate more shares & as a result, they bought me in (meaning a forced covering of my position) this morning.
Someone had mentioned that they wanted to take the ISLE short but their broker did not have any shares to lend at the time. As IB has always had, by far, the best availability of HTB (hard-to-borrow) shares, I would assume that most if not all here that also took the ISLE short either closed it yesterday on the gap below T1 or were also bought in by their broker.
If anyone still has a position, please let me know & I will continue to post updates on the trade. Otherwise, I might as well just close out the official trade here so I no longer have to track it & can focus my efforts elsewhere. Thanks.