Is the merger-arb spread paying you enough for the break risk?

The risk-arb desk in one view: the gross spread you earn if the deal closes, the annualized return, the downside if it breaks, and our model break probability versus the market-implied one back-solved from the price — the gap between them is the edge. Plus the invalidation triggers that would say the thesis broke. AtlasVector runs this read only for a symbol with a real announced deal — it never fabricates a takeover.