ConversionPremium the amount by which the priceof a convertiblesecurityexceedsthe currentmarketvalue of the common stockinto which it may be converted.
Believe it or not, when you convert IRA money one year, you have until Oct. 15th of the next year (the deadline, with extensions, for filing your tax return) to undo the conversion a move that might make sense if, for example, the market tanked and the value of your IRA fell after your converted.