that's just your opinion, maybe you're being super conservative... maybe more are punters... getting the options and exercising gets you half a piggy back... with three years to play... not to mention the leverage now... even if just for short term profits ignoring piggy backs....
with the leverage play i could sell 100k PAR for $50,000 (at 50c) and at say 18c buy 280,000 PAROA... if we get a deal and went to say $1.50 then they're now roughly sitting on 280,000 x 1.18 (if we stay with the 32c differential between PAR and PAROA as with 50c and 18c). PAR would have given me $150k, PAROA at $1.175 is giving me $330k.... yes in 12 months you have to make a choice on exercising or selling.... but, you've had the ability to more than double your portfolio...
holding value of PAR with PAROA
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