Ann: Appendix 3B - Exercise of options, page-7

you convert because you always want to be close to the money & what happened with AVZO is Hartleys had so many options and they destroyed the normal market price

the other day, AVZ was 17.5 cents and AVZO was for a few minutes 11 cents, until Hartleys destroyed it to 10 cents

that was a 7.5 cent gap when it normally would be a 3 cent gap

personally, i trade options all the time but i will not touch AVZO options again (unless it improves)

yes, i am a trader. if i held shares i would have sold at open at 17. i bought shares yesterday at 9.8, which I have now sold (because i have my new options shares)

but i was unable to sell AVZO the other day because i was not prepared to take 10 cents when the shares were 16 cents

plus by converting I made up the 2 to 3 cent undervaluation

AVZ has proved to be safer than AVZO