Can I clarify something on these -
If the strike price is 8c or 7.5c, and you buy at .001, you need the share price to be 8.1c just to break even.
The price of the option at the expiry date will be the share price minus the strike price (as it still needs to be paid).
The share price needs to be 8.2c for the option to be valued at .002, and you've doubled your money.
Sure, if the price goes up higher than 8.2c by June/July then your leverage is big - at 10c your option is valued at 2c over 0.1c you paid, but you'd want to her confident its going to get well above 8c.
This stock definitely seems undervalued but that is fairly bullish within that timeframe.
Sure there will be speculative volatility, but i think the options will continue to trade within a few pips f where they are until the SP is at least 2x where it is now, especially if it doesn't move up as quickly as people hope on the back of this news, which is a possibility if the debt holders continue to dump their shares on market as they have been and did at the end of the day on Friday.
Don't get me wrong, i think there is upside on AGO but need to be careful with the options - they won't move up as quickly as the share price will as they are technically well overvalued at this level and very risky on a short timeframe.
Just IMO, good luck
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