looks lke this is going to explode, page-26

Probably the balance of the trade at 3.4c i.e.

27941 @ 3.4 +
59 @ 2.8 =
28000

Therefore to close out the contract, they sold the last 59 at 2.8c. Sounds like a reasonable transaction.

My own thoughts are that the RSLO's are way overpriced compared to the strike price of the shares. Until RSL makes its way up the bleachers into the 20c seats, the options are not, imo fair value.

Of course once RSL are 'in the money' at 20c+ then you will see a fairer representation of the RSLO's come into play. If RSL is trading at 23c for example, then the options may be priced at 4c (i.e. 20c for conversion plus 4c risk and time value if RSL goes higher).

It is too easy to get burned at this level when the main stock is trading 7 cents below the strike price.

I detest the way the options have been hyped as I see that people may lose their money or be holding for a while until RSL do, in fact, come closer to that 20c mark.

Cheers,
Tangrams