While I agree the current state of the options is not looking great, I doubt anyone would be racing to exercise their options with 2 weeks of trading left and the SP sitting where it is. Even if its only 200 bucks worth of shares, exercising them is essentially paying a near 30% premium.
Not saying many will be racing to exercise anyway if news doesn't drop but I think we shouldn't be hasty to judge TO just yet. Essentially has 6 trading days to call a TH to allow the announcement to come out before expiry. Or 8 trading days if they go into TH when options expire, getting holders to make a choice on what the announcement would end up being.
Needless to say IF the options expiry without news then it will be a miss for TO. Understand it takes two to tango for a deal to materialize but again even an announcement of an update that a binding deal has been put on the table, would have this well over strike price.
I agree with people on the forum around the interesting terms of the funding with the 6c for this month and then VWAP from there on out. It does scream they believe the VWAP will be around that 6c mark next month but no one can know until the announcement has been made.
All I can say is I wish all option holders the best and hope your investment pays off.
1AD Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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