Washington Mutual Preferred fka WAMPQ

[Zilla]

I use to have 550,000 U's
I felt my portfolio was too heavy in one stock so I sold some U's for some P's and trimmed my overall position.
I still own both and there's risk/reward with each. I'd like to see the P's continue their climb and wait to see if SHORTY has started covering on the U's. If not then I expect another drop and I'll load up more U's and try to flip them into freebies. Hence...much less risk.