Sambo - it is a tough one as the SP is being manouvered IMO to a rock and a hard place position.
My gut feel is to exersize - I still have a few mill left myself. At least the company gets the cash rather than the market.
But I wouldnt be surprised that once expiry over it drops back a bit. Like you say, damned if you do and damned if you dont.
prepare for take off, page-17
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