Good morning,
This week, we take profits on a previous recommendation we pushed 2 weeks ago :
We pushed the + RYA LN / - RYAAY US at 10.5% premium for the US line on the 6th June 2016.
Friday spread traded at 7% premium (ADR to UK line).
We take profit on 3.5% over 2 weeks.
Also, we focus on the +DISCK US / - DISCA US+ DISCK US / - DISCA US: set up at around 5% discount.
Discovery Communications has historically seen some relatively large spreads in share class prices and has consistently taken action to tighten up the spread throughout the years through buy backs; stock splits, and index introduction.
More details in the pdf