RE:% Difference holding warrants over common stock..The spread between the warrants and owning the stock right now are ridiculously low for anyone bullish long term on CRZ. I sold off 2,000 shares of stock and converted into 8,000 warrant shares. The leverage that you get to the upside with minimal downside risk is incredible. The only logical conclusion is that those with $5.50 strike warrants are confused and think theirs have been called. They will be kicking themsleves when they realize what they did.