Can someone explain how the k.wt.c warrants (strike price $32 exp sep 2013) can be trading at $1.20 and the K.wt.D warrants (strike price $21 US, exp Sep 2014) are trading at $2.65. The "C" warrants are clearly not in the money and short of a miracle will never be. The "D" warrants have a very good chance to be in the money before they expire in 3 1/2 years. The spread between these two just doesn't make any sense to me.