第三问short sell股票的时候的dividend 为什么我们要支付？不是公司付给shareholder吗？
Cleopatra Partners is a Dubai-based hedge fund engaging in convertible bond arbitrage. Portfolio manager Shamsa Khan is considering a trade involving the euro-denominated convertible bonds and stock of QXR Corporation. She has assembled the following information:
Additional Information: 1) It costs €2 to borrow each QXR share (paid to the stock lender) to carry the short position for a year. 2) The stock pays a €1 dividend.
1 Discuss (using only the information in the table) the basic trade setup that Khan should implement.
2 Demonstrate (without using the additional information) that potential profits earned are the same whether QXR’s share price falls to €24, rises to €36, or remains flat at €30.
3 Discuss (using also the additional information) how the results of the trade will change.
