Looking on page 227 of the Radian SEC 10-K dated 2011.
The "capped call transactions" are intended to limit and offset any potential dilution. The conversation to stock price is $14.11 per share.
Geeperman you should have been a financial scholar instead of whatever you are. I know I probably called you a clown but, you know was joking. I am pleased to be able to network with some who are one-step ahead of the bunch.