MM you got me thinking about potential purchases of LEI pre div...

MM you got me thinking about potential purchases of LEI pre div (friday) and what upside v downside could be? Did a bit of quick maths here:

Sorry about format C & P'd from excel
p = profit PP = purchase price X= holding Div=60c
SP = Sell price

p =[(3/8 x X x 22.50) +( 5/8 x X x SP)]+ X x Div - (X x PP)

Break even p = 0
say 1000 shares @ $21 = $21000

0 = [(3/8 x 1000 x 22.5) + (5/8 X 1000 x SP)] + 1000 x 0.60 - 21000

21000 = 8437 + 625 SP + 600

11963 = 625 SP

SP =$ 19.14

(hope someone checks this; had a couple of glasses of red!) shows that could have bought on Friday (in fact it did not get down to $21 but cannot be bothered redoing sum) and put a stop loss in almost $2 (9.5%)lower & be assured of NOT losing $$$.
UPSIDE: I guess any number is the TRUE upside but you would think if some VERY knowledgeable insiders were willing to pay $22.50 then a reasonable target?

I thought I was happy with my entry at much lower levels but this just may have been one of those opportunities where the kitchen sink should have been thrown ....

cheers g