But what if the vote fails on numbers even? Where does that leave the friendly brokers/investment banks? There is no arbitrage if there is a chance they could lose money on the outcome of the vote. My view is that they are their for a super-normal return, not just to "arb" it. As I said it's not really an arb unless there is no downside. In this case, there is!
Btw I am not trying to argue, just helping us all work out what is most likely to occur.
regards DF
HDR Price at posting:
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