RE:RE:RE:RE:RE:Bid at $1.68Thanks for you thoughtful comments Maxmoe but I don't think your analysis of what needs to be done to unwind the pair trade is capturing what needs to be done. At maturity, the debenture holders will get their face value of the bonds but they will also have to cover their short positions and buy shares- presumably in the market. That's the only way they can lock in their profits, risk-free. That's 25 million shares that will need to be purchased or about 25 times the daily trading volume. This will have to be very positive for the share price and may insight a violent squeeze on the share price if they have to panic. If they don't start covering their shorts, and if the share price begins to rise, their profits will dwindle. If they keep the short positions they would have to have strong conviction that the shares will fall in value and I don't see that happening going forward. If earnings are strong on Friday, look for large volumes as the debenture holders begin to cover....
chi