Subject: Re: Ted in love w/ LSXMK
I bought some calls on LSXMK at the end of January. They've performed terribly, a 50% loss (so maybe it's time to double down, lol). For me the thesis was LSXMK is being converted to SIRI stock, and trades at a discount. Each share of LSXMK will get 8.4 shares of SIRI. Theoretically you could go long LSXMK and short SIRI, betting on the two to draw closer, but realistically SIRI is so tightly held it's hard to borrow against it. My broker would charge a premium to do it.
So I'm sticking with a one way bet.