Arbitrage is all very well and good, but in this particular...

Arbitrage is all very well and good, but in this particular case, you need to hold a lot of MLT to take full advantage of it. Not everyone can or will, particularly those who joined the party this year (whacked with full CGT).

Besides, wouldn't a $15K position in this or any stock be built up over a number of years, not merely due to savings enough funds but also from a point of view of dropping all these funds into the market at once ?

For those long-term buy and hold people (like me), I'm looking forward to topping up at a great price as much as I can. Each to their own though, and good luck to those who can / want to take advantage of the price differential.