Interesting times ahead, page-60

if you take out a call warrant, havent you just increased your risk? given you already hold the stock... I thought the purpose of that would have been to purchase a put warrant... so that if the news does come out good ur hedges losses are limited (even if it gaps!) and you will still win upside... if your wrong and the reports bad, share price drops but the put warrants gains cancel out the share positions losses... even if it gaps!