Anyone else notice the spread between CLL and CLLZF has really closed up.I had played the arbitrage between the TSX listed security and the ADR last year, but the gap kept widening and I lost interest in the trade.This is an interesting development which, I believe shows more US interest in this security.Although, that more speculation on my part since causality can’t really determined in this case.Regardless, I’m curious if there are any others out there that have been playing CLL/CLLZF arb and their thoughts on this trade. The spread got as wide as 26% (since 11/25/2005) with an average 9.1%, current spread is 5.3%

Happy New Year,

CHK