Spot on. Options expire 30 November 2008 with a strike of 35c.
I am long the options too.
As a hypothetical. Let's say the shares go from 34 to 94 ie 276% gain.
Options from 11 to say 70 odd ie a 636% gain.
If you believe the story and the future of moly, tungsten and copper, the options offer exceptional leverage (though of course there is the time risk to factor in but that is up to each investor). Further leverage cuts both ways, the shares fall to 25c, the options are all but a wipeout......
QOL
queensland ores limited
