convertible bonds v.s. exotic dancers

Gee...this "bore-to-death" topic is definitely no fun at all. Convertible bonds are something that you are entitled to an option to exercise your right to convert the debt instruments to a number of common stocks, normally within a specific period, according to the conversion price stated in the indenture of the bonds. However, if you put it this way and just think the stuff like that as a ticket to a high-class strip bar offering you "a dance" with a selected girl, things will be more interesting. Of course, I can't say how a convertible bond can be much alike. But they absolutely have something in common. Before entering a strip bar, you pay a few bucks to buy a ticket in which a bottle of drink and a dance is included. "A dance" can be a "conversion price" because you don't have make a now-or-never choice right away. You can patiently wait until your favorite stripper being available, and then she can serve you a dance. This option also has a time frame, which you must exercise it before the closing hour, just like the maturity date of the convertible bond.
The biggest important difference is that you might get more pay when exercising the right of a convertible bond, but you sure will get more pleasure from a strip bar.