Ok so if this dodgy market kicks on well into November these options will quite likely be out of the money. The cynic in me thinks the buyer of 10m at 4c is an oppie holder who thinks this too. Will be interesting to see our cash position but regardless management have counted on these funds. What likelihood IMC underwrite oppie conversion if they're out of the money. Good chance to pick up 140m shares for f all and to average down on their last purchase lol.
option conversion
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