Can you really give us that kind of buying opportunity again? That would put the certain 2005 yield over 25% (maybe much more). Let see - I can leverage some margin at about 6.5% - that gives me more than 18% free & clear. I say go for it.
I might go for it even if you can only get it down to $36 today. That's still pretty good return. Thanks.
Oh, & tell your boss to have plenty of liquid cash ready at dividend time this May. He's gonna need it.
Then I'll set today's limit orders appropriately while I'm away.
Curious, though as to why you'd short at these levels. At $70, with enough money to actually manipulate the price, sure, I can see shorting. But at $37? How much lower do you think you can make it go? Enough to pay the div plus interest?
I started picking off shares yesterday in the 36.70 range and the shorts were really reluctant to sell. Lousy little 100 shares orders they were reluctant to fill, made the asks jump every time I entered one.
There are no real sellers at these prices...the longs will just hold to collect their $8 per share in the next nine months.