Sep. 18 at 6:48 PM
$BCTX question, it looks like realized vol on BCTX over the last 6 months has been running around 85%. The BCTXZ series warrants with a strike at
$52.50 and requiring 10 warrants to exercise against a single share are trading at
$0.18 (or
$1.80 for the 10 required to exercise) leaving them prices at an implied vol of 126% while the BCTXL series with a strike of
$6.93 and a price of
$1.15 are sitting at an implied vol of 46%. Please explain.
