hmmmmmmmm, page-4

The simple maths for BCNOA are that for around one cent less investment (e.g. 1.5c per option instead of 2.5c per share) one can make the same absolute gain as the SP moves north. For example, if one bought 600,000 options at 1.5 cents ($9,000), each .1c increase in the SP would bring $600 gain. If one chose to purchase at the full SP at 2.5c, the buy-in price for 600,000 shares would be $15,000, but each .1c gain would still amount to the same $600 amount. This works out even better if the options are more than 1c cheaper than the heads at buy-in. So I too can't see why the options are lagging behind, especially when they are not due to mature until late 2010.

Ignorance is bliss except in regard to BCNOA.