PEN 3.49% 8.9¢ peninsula energy limited

oppies are a real bargain, page-17

  1. 200 Posts.
    i still can't figure out how this option should be valued.
    current sp 8.5c.
    penoa 5.1c => cheaper 0.4c to exercise
    penoc 5.5c => exact price for exercise
    so why not buying penoa for a great bargain?
    any thought?
 
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