问题如下：
10. If the market price of Pro Star’s common stock falls from its level on 19 October 20X0, the price of the convertible bond will most likely:
选项：
A.fall at the same rate as Pro Star’s stock price.
B.fall but at a slightly lower rate than Pro Star’s stock price.
C.be unaffected until Pro Star’s stock price reaches the conversion price.
解释：
B is correct.
The market price on 19 October 20X0 ($37.50) is above the conversion price of $1,000/31 = $32.26 per share. Thus, the convertible bond exhibits mostly stock risk-return characteristics, and a fall in the stock price will result in a fall in the convertible bond price. However, the change in the convertible bond price is less than the change in the stock price because the convertible bond has a floor—that floor is the value of the straight bond.
10 月 19 日，股票价格是 37 块多，超过了可转换的价格 32 块多，那这个时候是不是可转债已经转换为股票了？那如果转换为股票，可转债就可以按股票来理解了，那就选 A？
