Oppies need to be at 2.2c for me to break even which suggests that heads would need to be around 8.7c for someone to be interested in buying at that price. There is not necessarily a 1:1 direct relationship between oppies and heads because the oppies price is driven more by expectation of where heads are going. eg: if all of a sudden some big announcement was made and heads doubled in price then oppies may attract a higher premium than simply taking the head price and subtracting the exercise price to value the options.
With this share its not beyond the possibility that something substantive could emanate over the next few months but I'm certainly not holding my breath!
