someone walk me through the short box tradeI am just a blue collar doc - grinding out a living and investing to retire a few years earlier - got caught holding the bag on this garbage. Walk me through this box trade. It seems like we are caught in the middle of a peepee contest with the big boys...........
1 - the secured first lien hasn't budged since early november (I have a few thousand face value in this at 86 and change)
2 - impressive rally on the common over 2 trading days (my cost basis is nearly 20 bucks - ouch)
3 - non secured debt is dropping. (no exposure)
How does squeezing the non secured debt benefit the stock? The non secured is higher up the capital structure. Is it walked down in order to load up, or for it to be bought up and retired by the company - if so how does it get walked down?