Could someone please clarify some questions regarding the options? I would appreciate only responses from people who KNOW the answer to these questions NOT speculation. (Thanks).
So, as has been mentioned on this thread the date for options trading on the ASX wil cease Monday 22nd June.
1) Is that statement correct? --- If yes, why can't we continue to trade up until Tuesday the 30th June?
Obviously, the share price is NOT going to hit 20+ cents within the next 7 days of trading so the options are not going to be in the money by the 22nd.
IF and it's still a slim chance the share price does head north after the 22nd June that means options holders have a chance to convert and make some money...but as also mentioned on this forum 'who the hell has money to convert 1MIL+ options?'
2)So, what other options are there if you don't have that kind of money? Can you sell them off market to someone or what other ways around this are there?
Finally,
1) How does the converting process work? If on the 30th of June I do decide to exercise the options because the SP has headed North dramatically after the 22nd June what is the process of converting them to Ordinary Shares AND if it takes a few days to process, what's to say the share price doesn't DROP back below 20c while you are waiting?
Thanks in advance to anyone who can clariy this.
Cheers,
Seda
GDN Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
