Recently got moved around to the fid tech side at my 9-5, been studying convertible bond and it seems to be a very decent product. Since ET doesnt have a fixed income section and the conv bond mimics a derivative somewhat i will post it here. This is my understanding: - The conv bond is/behaves like a regular bond(debt) if stock is below the conversion price. You got your yield, maturity, and full repayment upon expiration, and it trades above/below par based off counterparty/rate etc.. - If the underlying is above the conversion price, the value of the bond will increase in ratio with the underlying price. This seems like a excellent product in the current market, it generates cash flow even if the stock isnt performing, less risk, and latches on the gain if the stock gaps. You risk really is only counterparty for long term investors, and if default you are on the same pecking order as debt not share holders. My question is does anyone know how a retail can trade those convertible bonds? it's easy enough for institutional traders to do it or for retail to buy funds. But is there a broker that let retail buy company specific conv bonds directly? I looked around in interactive brokers doesnt seem to find anything. I would love to get my hands on some etrade conv bonds at below par with a conversion price of $15. If anyone got some actual trading experience with convertible bonds, please feel free to discuss.