I tend to think that we will start to see options being exercised fairly soon. There will be quite a few large option holders sitting on significant paper profits at the moment and if everything keeps going the way it is some are either going to want to take profits off the table or at least put themselves in the position to do so at a time of their choosing.
Given the consistent lag between options and heads and the far greater liquidity of the heads market if you wanted to sell IAMOA's it would make sense (to me at least) to stump up the extra .008 and convert to IAM. Disregarding the time between submitting the request to exercise and the possibility IAM's price will drop during the wait, on top of the deeper market you will also gain an extra couple of pips...
For example, if I dumped my IAMOA holding "at market" right now (which would be the stupidest thing I have ever done), my average sell price would be .059, if I convert and dump the heads (the second most stupid thing) it would be .079
IAM Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
