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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Geigartt who wrote (2147)	3/22/1999 5:57:00 PM
From: RockyBalboa	Respond to of 2506

For stock warrants, this site has a list of them, see the bottom: noddings.com The list is also downloadable. However, they seem to be not complete. Some warrants aren't there while information on expired contracts is still included. This one is rumoured to be better but costs some $$$: stockwarrants.com stockwarrants.com A book for warrants: No idea. I read much about options pricing, where stocks "warrants" are covered in part, for some of their particulars (early redemption, dilutive effects of the stock underlying warrants...). >The imbalance as mentioned here: biz.yahoo.com referres to big inequalities in supply/demand in a certain issue prior to opening, so that the specialist can't open the stock but waits for additional orders. An trading halt for imbalance reasons can also happen anytime during session. C.

To: Geigartt who wrote (2147)	3/22/1999 6:09:00 PM
From: Q.	Respond to of 2506

Geigartt: a warrant is a lot like a call option. Some similarities: * Both give you the right to buy the underlying stock at a specified 'exercise price'. * In both cases you will in the normal course of events usually sell the derivative rather than exercising it or letting it expire. * Both will be priced by the market to have a 'time value' premium, which is the difference between the actual market price of the derivative and its nominal value which is the stock price minus the exercise price. Differences: * the expiration date of a call option is within a few months whereas a warrant expires after several years or never. This is the primary reason I would prefer to own a warrant rather than a call option. * a warrant can be redeemed or 'called' by the co. when the stock price exceeds a certain level (which is always at least a few dollars higher than the exercise price). When this happens, the warrant holder gets a letter in the mail that says the co. will give you a penny or two for your warrants unless you exercise them in the next few weeks. Sometimes shortsellers try to identify in advance when this is likely because they know that the stock price often declines when the co. announces a warrant call. * when you exercise the warrant, the proceeds go to the company and new shares are created, whereas with an option the exercise is handled by the options market makers who buy shares on the open market to give you when you exercise. Thus, a warrant call is a way for the co. to raise cash, whereas a call option really has no connection with the company itself.