RE: Kinross C Warrants on sale!The C warrants traded today and friday similar to a shorter's managed market. By this I mean that generally all day the bid and ask were about 10 cents apart and only single board lots for the bid and the ask. I've seen this trading pattern before and without level 2 its very difficult to accumulate a significant position. As these warrants are thinly traded and significantly below the Oct 17 high of $5.94 I'd say somebody shorted these warrants heavily back in October and is managing the warrant price very effectively. I.ve decided to put my to put my C warrants away for awhile and see where the stock price goes. The common shares made an October high of $24.58 on October 14 so there was a significant divergence between the common shares and the warrants on Oct 17. Then the stock price was gutted and the rest is history.
On sale? I don't know, but I do know the warrants have 4 years to run and hopefully Kinross will be significantly above the strike price some time between now and expiration. Anyone know how to calculate fair value?????
GLTA