Washington Mutual Preferred fka WAMPQ

[MasterBlastr]

You can't short a pink sheet stock. Period. I think one reason the K' s trade a little higher relative to the P's is the K's have to be settled in cash on the barrel, while the P's are converted to shares of common (or reorganized common). Also, its just the P's have a higher price, and it will be more difficult them to trade up to valuation, (if thats what will end up happening). All thinks being equal, I would say the P's are a better bargain for my purposes. There is the outside chance and at least some of the unpaid dividends get paid. K's did not pay dividends.