My scenario however was based on a 2 year + timeframe to give readers an idea of better leverage over the longer term PENOC (Dec-2015 expiry) If we did the same numbers over a 5 year timeframe on PENOC and all things going well on the production front then the OC's are a better buy today if your holding well above 2 years.
However if we were comparing the numbers on an 18 month expiry based on PENOA (June -2012)and your full intention was to exercise then yes PENOA is trading at a slight discount.
PENOC would create much more leverage over the next 4-5 years only due to longer expiry. Cheers MMM
PEN Price at posting:
10.5¢ Sentiment: LT Buy Disclosure: Held
