401k investment option ending; exit now or wait?

[Inaya]

My 401k plan has a company stock option. I allocated 5% into company stock. I understood the risk and accepted it based on the belief that, long term, the price would go up--it has historically outperformed S&P 500 quite handily. A risk based on a false assumption: time. What I didn't know was that the company stock 401k option is going away in November 2016. I found out about that today. So much for long term.

Much like the rest of the stock market, its value has dropped over the past 6 months--but still up 6% for me based on when I made the original allocation. So my questions is should I reallocate that 5% now while I'm still ahead? Or should I just keep the 5% in there (including 5% of future 401k contributions) until November in the hopes that I can squeeze a bit more out of it? I know timing the market is frowned upon, but I'm not sure it applies when there is a deadline like this. (Either way, the 5% will be reallocated to an S&P 500 index fund with a .03% ER.)

We also have a regular ESPP, but it doesn't seem very good.

[Gonzo]

Literally anything could happen to that stock between now and November, but you have allocated only 5% so it's not too much of a concern. 

If you think it's a good investment for that time period, hold it.  If not, sell it and buy something you think is better.  To me, the fact that your hand is forced in November doesn't matter.  It's the same decision either way. 

In a 401k, you don't control the investment options, so the same thing could have happened if you had the money a mutual fund.  Also, sometimes mutual funds close and liquidate their holdings.  Publicly traded companies get taken private, so many people have needed to make decisions like the one you are making.