Quote from newwurldmn:
Not really. You get a new share but your old share gets diluted. I think they do a stock dividend because there are some kind of favorable tax implications for all involved.
We'll see about the pnl. Again, I did it in small size to my book. So it won't move the needle either way. That monthly vol has a lot of effect. I was modelling it to 25, but as i look, it might go to 20. that would change the pnl dynamics a lot.
Vol will probably open at 21-22. May get to the 19 handle tomorrow, but doubtful.