The following are the bid prices for call options that expire only 17 days after the warrants expire: 25's- $3.9, 30's-$2.2, 35's $1.4!. So the right to buy sandridge at 35 till October 21 is bid at $1.4. Too me , I think the right to buy Sandridge at 41.3 before October 4 should be worth more than 14 cents based on call options prices. Does that mean you should not sell some ? no . If I owned the 35 calls though, I would sell every one to buy the 41.3 warrants.
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