You are a hard man Auntie - we gave it our best shot and fell short?
I am surprised to see you lurking in the shadows late at night - not your usual contributing time.
Not sure that I can agree on your explanation of how implied volatility comes from the last traded price of the warrant. It's a chicken and egg argument except that the first or day one offering of the warrant by the MM has to have used an IV in order to kick it of - no?
Regards
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