저지능 트레이딩

20h ago

마케팅할거면 똑바로해라 임마. 속이지말고 더 쏘아붙일까 살짝 고민이되네.

278

1d ago

All-stock exchange = fixed exchange ratio 4.5. Lumilent 1 share → automatically becomes Marvell 4.5 shares when merger closes. Why does LITE 1 share ≡ MRVL 4.5 shares at deal close? Confirmed to converge to MRVL 4.5 shares per LITE 1 at deal close. But before close LITE trades cheaper than that value (deal breakup risk · time). That discount spread is the gap to capture. Deal value: 1 share = 4.5 × MRVL. LITE market price < 4.5 × MRVL ← This difference (spread) is profit. Hedge ratio 4.5 is key - Long LITE 1 : Short MRVL 4.5 (exactly matching the exchange ratio) - When it closes, LITE transforms into MRVL 4.5 shares → use that to cover the 4.5 short shares → MRVL price goes anywhere, offset remains - What's left is just the spread at entry - Neutralizes all market/sector/semiconductor beta. Revenue source example (announcement price): 4.5×MRVL ≈ $1132. If LITE trades at $1100, spread $32 = 2.9%. Over 2-3 months to close, that's double-digit annualized. Spread → 0 at close date = profit premium. The 23.9% premium was already reflected in the LITE jump at announcement ($913→$1100). Only 2.9% remains for arb, compensation for bearing deal risk

389Show Korean original

1d ago

발빠른 사람들은 먹으러 갔겠지만 루멘텀롱 마벨 숏 차익거래 기회가있어요

325

4d ago

이개병신 장애인은 트위터를 시발 디젠보다 많이해 역대급 좃장애저능아대통령

404