It’s a formula to calculate the premium of an option with variation over time.. I don’t really use it as all I care about is the end result..
I keep it simple and calculate premium to the current heads (fpo on market) so the variation is the closing the price at any given time..
So I picked up the b package earlier at 1.1c , my initial free options total was 478538, I purchased an additional 521462 on market..
So my total outlay rounded for 1m options is .006c.. so add the 9c conversion price and it’s 9.6c..
Currently I can buy fpo on market at 5.2c so if I was to convert today I’ve paid a premium of roughly 82% or 4.4c
But I’ve got time until I have to convert (or not) and leverage on those increases exponentially above the 9.6c pricepoint..
The risk is the heads stay under 9.6c come expiry which I consider unlikely but it’s always risk.. from
a monetary point of view I’d loose $6k..
However the payoff is huge if everything comes together..
Say on 20 Jul 2021 heads are trading at 50c.. I pay 90 grand to convert my 1m options and sell those on market for $500k..
Theres the end result...
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