if they are tradable they won't be worthless even this far out of the money as they have time value 2yrs of it ..
case in point
IVZOA opts have just over 2yrs to run 20c ex price and the head share IVZ is just over 8c so long way to ex price and these well out of the money options trade just over 3c !!
AEE trades 16.5 -17c .... new options IMHO would trade around 3-4c if listed at present .. but we see the funds invested wisely and real positive move towards production higher U price etc and the SP heads back to 30c like it was few months ago those same options will trade 10c+
As guys like myself like the leverage and would pay 10c Vs 30c head share price if we still had well over 12months till expiry
so those Insto that not only got shares for 17c (lowest price for some time during high U prices )
they also get very nice leverage upside in the free opts the punter that's buying at present doesn't get
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