RE:RE:For All Holding CWB, I hope This Goes ThroughI did the math as well and reached the same numbers. The correct strategy now is to sell naked puts on NA or buy calls if so inclined. The discount on CWB is known as "Political and environmental risk" . This deal won't close until 2025. Markets could crash, Liberal gov't could say no to the deal. Problems that were unknown are discovered etc. The discount is equal to what a call option on CWB might sell for based on all that is known at this time.