Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 54.19

-4.7%

Jan 15 3:59 PM EST

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To: tom pope who wrote (28259)	9/30/2008 2:16:15 PM
From: tuck	of 52153

OT: Figures. It just spun all the way out of CY, so maybe, like an IPO, there's no shorting for a bit. By the time it is borrowable, spread will likely be gone. Perhaps there's a way around this with options. I believe they'd be tied to the A class, so short calls or long puts while longing the B might work? Seems plausible; looking at the chains, I see the October puts are seeing a lot of action compared to calls. The problem though, is you'd want to know how fast that spread was going to disappear -- it had been $10 at the open. Believe the difference has to do with the unwinding of the long CY short SPWRA arb trade, which can't be covered with B shares. How long that takes I don't know. Cheers, Tuck

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