If you use your KMI warrants to purchase at 40 dollars per share is there a waiting period to sell or can you sell immediately for a short term gain?
Why not just sell the warrants?
That said, I presume once one exercises their warrants and receives KMI shares, it's just like purchasing a stock; you can sell whenever you wish.
I've never exercised warrants. I would think it depends on your broker's policies of whether the shares would be in the account and their back office speed of getting the shares in the account..
I would either sell the warrants, or hold them to near expiration. Exercising them early you would just forfeit the time premium.