fms vs fmsoa, page-7

Agree with the top two posters. Makes no sense at all. Anyone looking for a medium to long term hold would be stupid not to buy the options and convert them, effectively giving themselves a 1 - 1.5c discount on the heads. As is normally the case, options trade at premium due to the extra leverage they provide. The fact that they are expiring at the end of September is no issue, especially considering the amount of news expected between now and then.