You need to come up with an additional 3c per share to convert either to full shares and thus participate in any dividends.(which shoudnt be a worry for a while).
You can convert at any time up to these dates and you can buy and sell just like the heads.
Of note I believe in a lot of cases when the market is moving up one of the first indicators can be movement in the options which could be because a lot of smart money is in there taking up the financial advantage that options offer.
In PENs case of late this is not happening which is why IMO they are a bargain.
Go back of the many posts on Options posted here there are some excellent posting outlining the financial advantages that may also apply to you.
PEN Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
