RE:Usual play on conv. deb.That strategy would not work in this situation. First, we do not know what the debentures will sell for, but it is a certainty it will be above par. That's where the Raymond Raymond James profit comes from. So to make money on the debentures, you will get the yield at issue If the sp does not rise, you will have to sell the debentures at par, so lose whatever the premium was so take that off the yield earnings. If the sp does rise above the 3.80 conversion price, you can exercise, get the shares, but your short sale is now down the difference beatween conversion price and the short sale price. If you think the QTRH sp is going to fall, just short the stock and forget about the debenture.