Re: Possible arbitrage on OSTK
You know -- I was thinking about doing that though the gains I realized on common were long-term and these are short-term losses on the preferred. So they don't cancel each other out. Still, the price differential has gone from $25 to a couple of dollars which was the idea. I did think it was more likely to close the gap on the way down than up. So it was a bit of insurance and served well in that capacity.
I did buy back today what I sold of the common. So I am somewhat more exposed but not troubled by it. I think the earnings delay is a bit of a red-herring. It probably won't be a blowout or anything like that but I can't imagine Patrick either delaying just to avoid the call or giving Saum a $100K raise if the results sucked badly.