$16.00 is critical...cslvt, page-16

G'day Nickoo et al,

Thanks for providing the ongoing discourse on this trade. I, like many others, I am sure, am watching the trade unfold and the commentary here with great interest.

Nickoo, I appreciate that you are running a longer term strategy on your option trade and this does indeed change the way that one would manage the trade through to completion.

I just have one question at this time. You said something along the lines of "when the option is cheaper than what I consider fair value". The term "fair value" is most often used in formal option valuations (usually BSOPM). Is this what you mean? or would I be correct in thinking that your usage of the term relates more to your prediction of the future price of the equity?

TIA