Buy ALB by May 17, 2028.

I came across an interesting trade that I wanted to get thoughts on. It centers around Albemarle's mandatory convertible preferred stock ALB-A. This preferred stock pays a roughly 6% dividend, which is decent, but nothing crazy. Where it gets interesting is knowing that this preferred stock will convert to ALB in Mar. '27. This preferred stock essentially has a mandatory put option built in. This presents an opportunity to sell an ALB call option on a similar timeline. By my …