There have been a few ASX announcements recently showing that...

There have been a few ASX announcements recently showing that various options from yesteryear have been exercised so my guess would be that those people have bought the options at 25 c and very happily sold at almost any number in the mid-30s. They are not hanging around. So sophisticated investors are merely waiting until all that lot flushes through the system. Expect re-rating in December, especially if they can make another sales announcement or two.