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Technology Stocks : IFLY - travel sales on the web pure play
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To: Pete who wrote (59)4/12/1998 7:22:00 PM
From: blankmind  Read Replies (1) of 4761
 
- You can't say IFLYW is trading at a "discount" to IFLY.

- The strike price is $6.25. The stock price is $7. Therefore, the warrants have to trade at least $.75. Otherwise, there's a huge arbitrage play.

- And in fact, the warrants are above $.75 -- trading at $1.03.

- However, what you can safely say, is that the warrants are awfully cheap. You have almost 5 years to exercise the warrant. You're already in the money for $.75. Hence, you're only paying $.28 for the warrant.
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