footy, page-15

Bob1
My understanding is: SSNO (tails/oppies) are a listed option (meaning it can be traded on the ASX, you can buy/sell them through your trading platform).
These have an exercise price of 1.5c and expire some time in 2012, so they trade at a discount to SSN (heads)of around 1.5c. The same capital can buy you more SSNO's than SSN's but there isn't as much liquidity in them as the heads (less volume traded).
They also have no rights to any equity raisings or dividends ect. Some companies allow you to exercise them during a capital raising so you can participate in a raising.
Exercising means: you pay the company the exercise price to convert them to fully paid shares (heads), this can be done any time up to the expiry date, my guess is if you don't exercise them when they fall due then they will expire (vanish into thin air).
E.g. SSNO bought today @ 13c, some time in 2012 SSN is trading at 20c and you exercise your SSNO for 1.5c you have SSN's for 14.5c. You just delay paying the difference to a later date, but for the same capital now you will have more of a holding.

I hold both, cause when the price was rising I sold some heads and bought options and pocketed the difference.

Please, anyone, if I am wrong then correct me so I will be clearer in my understanding also.

Boy night shift is loooooooong. Getting sleeeeeeepy.