PointyD, I understand options very well, I predominantly trade options, so please don't get high horse on me. As mentioned I thought option exercise price was 40c, I misread the Appendix B. By the way, close to expiry you do often find options at a discount to the fpo. Have made good coin before doing exactly what you just described although you will never get such a discrepancy of 10c below value.
lomo, page-13
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