By 'collapsing premiums' you mean the amount by which they are out of the money? ... they are quite OTM, and have been much more so, i've been trading them with a trend to accumulation since the common was under five bucks, seemed quite absurd then but still nine years is a long time, and the spread was extremely wide at times, plus you could tell they were well supported at 1.00, somebody had some kind of a plan ... one day i had two complete round trips, small numbers but returns of twenty per cent plus ... another time a sale then a buy then another sale, and a buy next morning, just one-pennying the bid/ask to the great irritation of some larger player who would leapfrog me a time or two then give up, lol
It's an unusually long dating, you have to wonder if maybe when they were setting it up they had premonitions of something like the merger with mr/pik et al ... makes me curious as to who holds the bulk of these warrants, likely we'll never know
Btw, it's premia not premiums ... latin root is why ... just happen to have been taken to account for that myself recently |
