@Tangible_Bruce Did you look at any of the preferreds that trade <50% of the common with essential all the same rights + higher dividend payment? Been like that for decade but still…
@DsrPrivate Do you prefer this over short stock + long call delta neutral or is it essentially the same trade? And do you plan to roll that call in April all else equal?
@DsrPrivate Pretty sure they can but it's cleaner for them to do it as cash. The FA probably sends a form to their back office who processes at a random time and the basis is based off when the journal happens so they won't be able to get the RMD exact. Likely have to use share count vs $.