Ann: IVZ launches Entitlement Offer, page-127

Not hoping anything the assumption you make is that there is the same liquidity and perfect pricing in the option market that you do not lose money with such a stategy. My point it is not like for like and you are effectively paying cash for these so called free options by taking a 20 percent hit on heads for more risk that it doesnt make much sense as an investment strategy in a CR scenario. If you are looking for more risk why not just load up on the options right now below 5 if you are so confident they will hit 7c