Subject: Re: Itching for Market Correction
Man I wish I would have known to look for these. I bought June '25 $30 calls. The warrants would have been a better deal. They still have a $22 exercise price, right? Some (very?) rough calculations show the warrants are trading at 7% to 13% lower than would be expected of options with a similar expiration date.

The warrants still have a $22 exercise price. They don't adjust for regular dividends. I don't recall whether they include the same anti-dilution adjustments that Berkshire's warrants had, but I don't think it will matter either way. It's kind of reminiscent of the Bank of America warrants that Berkshire got privately, but the average Joe could somewhat sorta play along with the BAC TARP warrants that traded freely. These OXY warrants were Carl Icahn's idea when oil prices took their plunge and OXY was strapped for cash.