SandRidge Energy Inc (SD)

[brandemarcus]

Creede, it's not the exact equivalent, however the July 15 expiration 20 calls are bid at 2.20 and even 22.50 calls are bid at .90 cents. If the underlying price goes up a little more the options maker may start listing 40 calls. Some hedge fund might even try to arbitrage between the warrants and the options by either buying 30 dollar puts or selling 40 calls and buying the warrants. Flaw in that plan would be the lack of liquidity in the warrants. Anyone can check the prices by googling sandridge energy option chain yahoo.