RE:RE:RE:RE:LCS unit nav to Feb 21 = approx; $17.03 I don't about Questrade but on Investorline, I receive a warning and then just have to call to exercise the option. The only challenge with this, is that you cannot trade for a month and then can only expect to have your money back in mid May. So if you want to protect your position, you have to either use options or buy a similar split fund such as lfe. Probably not worth it for retail guys like us if the discount is small but big guys can find money in doing it therefore the premium tends to shrink as you get closer to the date. Remember, you assign your shares in end March but will only know the value paid for it in end April and get the money mid May. Obviously this also applies to the prefs, but with prefs you have certainty on what will be paid, I.e. 10$. Less uncertainty.