Hi tbrin
Having been involved in more than a few of these scenarios over the years, you don't convert options this early to hold.
You do it to hedge your position by converting to FPO in order to utilise this far more liquid market as opposed to the options market, so as to sell into while there is juice in the sector.
No way he is not a heavy net seller at this point with his average acquisition of price per share now so
incredibly low.
IMO DYOR
Daily Discussion, page-3113
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