The dilution is real and immediate. I wouldn't just jump in. This is not a good sign.
The underwriters are making money hand over fist. I don't know about anyone else. WLL is trying to keep some of its revolving credit. This is an indicator that they don't expect to be able to pay off any debt for many years to come. The company hopes, that before the debt becomes due, it will be converted. Notice there is a significant premium for voluntary conversion.
Are you talking about swapping bonds to convertibles? That has nothing to do with a stock offering or debt reduction. It is more like paying a fee to pay off one credit card with another one--grabbing at straws. Of course dilution occurs .when the obligation is incurred. That's a downward force.
You can't tel, yet you pretend you can. The two types of orders are buy and sell. Short and long are bookkeeping exercises that are provided by your broker.
Have any of you people who at least claim to be buying thousands of shares of WLL at various prices considered trading the oil indexes, such as OIL or USO? You can play the volatility associated with the price of oil without the high risk of of investing in WLL.
Bought 3000 shares now and sold covered calls for Jan for about $0.90. I think your calls will expire, worthless. Regardless,it is money either way. Did you cover the entire 3000 shares?
You were a little quick on the draw for someone who expected 6. I covered at $7.13 for a $1.01 per share profit.
Technically speaking, WLL is overbought. The stochastic has started a bearish crossover. Don't forget, it is not a guaranteed predictor. However, it has predicted every one of WLLs oversold condition for the last 3 months It all depends on the price of oil.
Little consolation for those who bought at $90, down 93%. 85% of a small number is insignificant, while 93% of 90 is significant.
Don't worry it is overbought. I'm waiting to see if it has support at 3.5.
The volume is certainty nearly half of yesterday's volume. I'll bridal my enthusiasm until it breaks through $6. It has been this high before.