I think the pricing becomes more warped as the commons get lower and lower. This is especially true as it gets closer and closer to the expiration date — there is even less confidence the stock will ever hit the Strike Price.
I am going to use this chart as a way to price my limit orders and as means to determine how undervalued the warrants may be at any given time.
One glance at my numbers reveals something very obvious — that I think XELA warrants are very undervalued right now. That's why I have been buying them like they are going out of style.
I hope we really do see a nice run on the commons. If so, the warrants should eventually skyrocket to a new level. Then we can see if the chart was right — or not!
Everyone keep in mind these are minimum valuations. When a stock is hot investors will pay a premium. I have noticed $1 over the mathematical value once the stock is above the strike price.
Not saying XELA is going to make it to $11.50. No idea.
Just saying these are the minimum prices I would take for my shares.
Of course, I just raised my sell orders on my XELAW warrants. If they can get this contract then I figure more to come.
Plus, the warrants do not expire until 01/16/2022.
XELAW - made close to 50 grand on these, bought a ton at 2 cents earlier this year and exited at the first run to a dime, those things are an absolute ATM
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