I know what you are saying just and Sid, but my concern is that...

I know what you are saying just and Sid, but my concern is that LOMOB holders panic and sell, and LOMOBs behaving like a share in their own right follow their market. Say some panic and think better take that great profit now before it vanishes, sell at 12c then 11c then 10c, etc. because of the leverage.now your arguement is that if they went to say 5c then people would buy and exercise and effectively buy LOM at 35c, but my arguement is that because of that and the slight hassle and risk of exercising and holding LOMOB they could quite easily go into 'negative' premium and because of the correlation pull the heads down with them as they work in tandem.

You have to stop thinking that LOMOB are there purely as oppies to convert to LOM. They are a means unto themselves and can control LOM just as much as LOM control them, especially as they near their expiry. Their leverage can be both their success and failure. When they go up, very very good, when they go down very very bad.
Difference between the two... LOM don't die come May.

Complicated isn't it.

Now del, no more pics of your relatives in a boat...... becoming a bit like that Gary Lyon broken leg thingy.....