Replies to post #30244 on Washington Mutual Preferred fka WAMPQ

[Chiron]

Does it really matter at this point, lol? One way or another they are going to be worth a lot more or worthless once we get Walrath's opinion or ruling.

[Zilla]

I found it easier to 'trade" P's because above .501PPS it's 2500 shares to above 1-10PPS, 500 shares with above 10 200 shares so a million dollars of face value can be done easily with 5 trades in P's, it takes 16 trades to easily do it in K's.
However when there is a 20-25% difference from K's to P's it's fun to flip from K's to P's and keep the same face value.
However after the ER DIP it was easier to get the 500 block P's @ 6 PPS than it was to get the 5,000 block K's @ .15 per share but the K's went to .45 in the days after and the P's went to 15.

Also when K's hit .70 a few weeks ago and the P's hit 25 they we're easily able to short the P's to 13 (5K traded between 13-13.5) than they we're able to get the K's down below .50..If I hadn't sold 65,000 K's it might not have broke down below .50 cause I sold 10,000 @ .485

So I have to disagree with you about traders liking the K's. I think they like the P's and are afraid of shorting K's without news. P's are easily shorted and covered when retail trys to flip with the momo IMO. :-)

[onco]

what is the restiction, i missed that somewhere TIA

[castboy]

The restrictions were for all classes I thought.