Whiting USA Trust I (fka WHXT)

[Tinkerer]

Why is anyone buying this stock at these prices? It should be trading closer to its actual value, down around $3.10 to $3.45. The dividend is still 2 months away, and the expiration date of this stock, at which time all shares will vaporize and be no more, is only 1 year and 9 months away. I know oil is high, but because this stock is nearing its expiration, it should be trading much lower. Anyone know who is buying at these prices?

I expect the stock to take sharp dive downward in the next 1.5 months before it climbs up after the dividend announcement.