My working theory is there are some are sitting on a pile of 10c options that have decided that a return of 20% an option is a good low risk return. This is what is capping the price at circa 12c. After that there will new levels set based on the next risk reward bracket
I personally am waiting till first production to take them up mine, of course the risk is they expire before first production or we all convert and sell at once.
Ripe to launch, page-158
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