Here's two more pieces of statistical data I went and analysed for the sake of understanding our options. Just to clarify, again, I feel they haven't attracted the premium they have deserved once they became 'in the money', but that the premium should probably be about 5c.
So, options become 'in the money', that is, useful, when the head stock is above their strike price - otherwise, few would buy the options without anything but speculation, right? So, let's look at the period when THC first traded above 40c (option strike price), to now. I have researched this and put together in a table.
The long and the short of it, you'll see, the average premium has been subdued = $0.008 = 0.8c! Individually, you'll see the premium has never spiked into double digits, and would broadly speaking, fit in more with low-to-mid single digit figures.
Column 1
Column 2
Column 3
Column 4
Column 5
1
Date
THCO Close
THC Close
option 'true' value
Option premium
2
13/11/2017
0.12
0.45
0.05
0.07
3
14/11/2017
0.13
0.525
0.125
0.005
4
15/11/2017
0.465
0.92
0.52
-0.055
5
16/11/2017
0.3
0.65
0.25
0.05
6
17/11/2017
0.445
0.85
0.45
-0.005
7
20/11/2017
0.53
0.95
0.55
-0.02
8
21/11/2017
0.59
1.02
0.62
-0.03
9
22/11/2017
0.63
1.08
0.68
-0.05
10
23/11/2017
0.54
1.005
0.605
-0.065
11
24/11/2017
0.55
0.95
0.55
12
27/11/2017
0.45
0.91
0.51
-0.06
13
28/11/2017
0.45
0.9
0.5
-0.05
14
29/11/2017
0.42
0.85
0.45
-0.03
15
30/11/2017
0.4
0.825
0.425
-0.025
16
1/12/2017
0.43
0.82
0.42
0.01
17
4/12/2017
0.375
0.77
0.37
0.005
18
5/12/2017
0.34
0.76
0.36
-0.02
19
6/12/2017
0.31
0.735
0.335
-0.025
20
7/12/2017
0.385
0.795
0.395
-0.01
21
8/12/2017
0.365
0.755
0.355
0.01
22
11/12/2017
0.35
0.79
0.39
-0.04
23
12/12/2017
0.35
0.79
0.39
-0.04
24
13/12/2017
0.35
0.79
0.39
-0.04
25
14/12/2017
0.325
0.69
0.29
0.035
26
15/12/2017
0.3
0.675
0.275
0.025
27
18/12/2017
0.27
0.64
0.24
0.03
28
19/12/2017
0.3
0.625
0.225
0.075
29
20/12/2017
0.315
0.62
0.22
0.095
30
21/12/2017
0.31
0.63
0.23
0.08
31
22/12/2017
0.31
0.61
0.21
0.1
32
27/12/2017
0.31
0.63
0.23
0.08
33
28/12/2017
0.375
0.725
0.325
0.05
34
29/12/2017
0.33
0.68
0.28
0.05
35
2/01/2018
0.325
0.695
0.295
0.03
36
3/01/2018
0.32
0.715
0.315
0.005
37
4/01/2018
0.53
0.935
0.535
-0.005
38
5/01/2018
0.55
1.005
0.605
-0.055
39
8/01/2018
0.46
0.89
0.49
-0.03
40
9/01/2018
0.545
0.975
0.575
-0.03
41
10/01/2018
0.505
0.91
0.51
-0.005
42
11/01/2018
0.47
0.89
0.49
-0.02
43
12/01/2018
0.465
0.9
0.5
-0.035
44
15/01/2018
0.5
0.91
0.51
-0.01
45
16/01/2018
0.56
0.985
0.585
-0.025
46
17/01/2018
0.58
0.97
0.57
0.01
47
18/01/2018
0.575
0.925
0.525
0.05
48
19/01/2018
0.575
0.91
0.51
0.065
49
22/01/2018
0.5
0.89
0.49
0.01
50
23/01/2018
0.48
0.895
0.495
-0.015
51
24/01/2018
0.52
0.905
0.505
0.015
52
25/01/2018
0.495
0.86
0.46
0.035
53
29/01/2018
0.455
0.84
0.44
0.015
54
30/01/2018
0.47
0.85
0.45
0.02
55
31/01/2018
0.475
0.825
0.425
0.05
56
1/02/2018
0.455
0.825
0.425
0.03
57
2/02/2018
0.44
0.84
0.44
58
5/02/2018
0.39
0.8
0.4
-0.01
59
6/02/2018
0.32
0.715
0.315
0.005
60
7/02/2018
0.42
0.76
0.36
0.06
61
8/02/2018
0.38
0.755
0.355
0.025
62
9/02/2018
0.355
0.725
0.325
0.03
63
12/02/2018
0.33
0.71
0.31
0.02
64
13/02/2018
0.375
0.8
0.4
-0.025
65
14/02/2018
0.38
0.765
0.365
0.015
66
15/02/2018
0.43
0.815
0.415
0.015
67
16/02/2018
0.47
0.87
0.47
68
19/02/2018
0.44
0.84
0.44
69
20/02/2018
0.435
0.79
0.39
0.045
70
21/02/2018
0.34
0.755
0.355
-0.015
71
22/02/2018
0.395
0.8
0.4
-0.005
72
23/02/2018
0.37
0.77
0.37
73
26/02/2018
0.39
0.78
0.38
0.01
74
27/02/2018
0.355
0.76
0.36
-0.005
75
28/02/2018
0.34
0.77
0.37
-0.03
76
1/03/2018
0.32
0.725
0.325
-0.005
77
2/03/2018
0.3
0.72
0.32
-0.02
78
6/03/2018
0.305
0.73
0.33
-0.025
79
7/03/2018
0.3
0.645
0.245
0.055
80
8/03/2018
0.3
0.685
0.285
0.015
81
9/03/2018
0.27
0.655
0.255
0.015
82
12/03/2018
0.285
0.66
0.26
0.025
83
13/03/2018
0.23
0.64
0.24
-0.01
84
14/03/2018
0.23
0.6
0.2
0.03
85
15/03/2018
0.23
0.6
0.2
0.03
86
16/03/2018
0.27
0.64
0.24
0.03
87
19/03/2018
0.26
0.595
0.195
0.065
88
20/03/2018
0.23
0.6
0.2
0.03
89
21/03/2018
0.23
0.615
0.215
0.015
90
22/03/2018
0.25
0.615
0.215
0.035
Now, the other way to look at it, is to look at the value the options were trading at before they were 'in the money'. In this instance, not the premium, because the options are rather useless if the share price for the head stock continually stays below 40c. So, let's look at that data as well, which I have pulled together. The average across this respective period going back 6 months, and then excluding the days where the options went 'into the money', leaves us with a premium = $0.06 = 6c. If I go all the way back to the IPO debut, the average for that period, prior to the options becoming 'in the money', offers a premium of $0.0748 = 7.5c.
(20min delay)