Determining prices of the preferred stocks
What should be the prices of the following preferred stocks if comparable securities yield 7 percent? Why are the valuations different?
a) MN Inc., $8 preferred ($100 par)
b) CH Inc., $8 preferred ($100 par) with mandatory retirement after 20 years
Now Priced at $5 (50% Discount)
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You own 1,000 shares of XYZ and have purchased ten protective put contracts. The puts have a delta of -0.317. Instead of buying puts, how many of your shares should you sell short to achieve the same result?
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