shares vs options, page-2

Hi michelle

Yes, you are correct there.
They just trade as normal until conversion

As mak is so in the money its not funny, in theory they should trade about 30c behind the heads until Dec 08

Options always do, unless the heads are not doing well, and the cost to convert to real shares means a greater cost than the value of the heads.

I buy mostly mako personally, but that's just me and I have also some heads, as I get great leverage

i.e. I bought 2 days ago at 1.70 and 1.75 from memory, and today they are 2.45

I find the % gain greater with mako, so if you see any lag in the mako price, they "should" be a good buy

But that's just my opinion, hope it helps.
Cheers,
Wilson