I haven't converted options before but I'm seriously considering converting some RXLOA and I have some questions regarding the conversion process.
Lets say, for instance, I bought 10 000 options today for 6.2c (not actual amount or price but just an example). It costs 1.5c to convert them to heads so I'd send $150 to RXL and they'll be converted. This brings my average price to 6.2c + 1.5c so 7.7c, so if I sell them at say 9.5c I'd be $180 ahead minus brokerage for selling the heads.
How do I go about the conversion? Seeing as I've bought the options today do I need to wait for settlement to occur before converting? Is there a form available that I fill in and send with a cheque to RXL or can I BPay, direct debit etc?
Sorry for the stupid questions but thanks in advance for any replies
options at bargain prices, page-16
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