Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Bearded One who wrote (6977)	11/13/1997 7:40:00 PM
From: Steve Robinett	Read Replies (1) of 9285

Bearded One, I just plugged the AOL conversion feature into my option model. Assuming 6% carry, 104 strike and a stock price of 73 (about the price when the debenture was issued), I get a value for the call of about $28.75 with 60% volitility and about $16.50 with 40% volitility. That's about what the conversion feature's worth at issue. Where do you get $11? Best, Steve

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