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Pastimes : Georgia Bard's Corner -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (3754)	7/16/1998 9:56:00 PM
From: TraderGreg	Read Replies (1) \| Respond to of 9440

The AVIA side is very grim, is it not? If AVIA holds its current price, they give up X shares to POKR people; but if AVIA drops to 1/2 its current price, then they give up 2X shares to POKR people. Greater dilution. Since I don't know the NUMBER of shares of each that exist, can't determine the % dilution, but it is definitely to the advantage of the POKR long side. How does shorting AVIA now give you a 6 out? (You wouldn't be covering the AVIA short with POKR.) TG