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Vale S.A. Message Board

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  • jcbrowns jcbrowns May 23, 2008 5:45 PM Flag

    RIO Preferred. Whats up?

    "Yes it can- you can buy/sell options on the common but not the preferred, that is worth a lot in a hectic market"

    That cannot explain the differential; that is, if one thought this was an important factor, I would recommend buying or selling the common options against the preferred. The preferred at least tracks the common. I would never recommend paying a 20% premium for the right to buy or sell options.

    The only legitimate reason I have heard for buying the common is the fear some have that the preferred share holders might lose out in the event of a merger - and I don't buy that argument.

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