big big day ahead...

Finally the market is re-rating BTV...

I suspect the "players" have been waiting for this announcement...now they have it, they will probably let it go...and maybe even help it aong?

lol...the options are all gone...just 140K options left in the depth...and still they are way undervalued?????

I suspect the discount in the options has been due to the markets perception of a possible pull-back in the shares after their early conversion...I suspect however thay may have underestimated the current interest for the sector...add to this the finalisation of the transfer of the permits, and I think BTV may be in for a very short and sharp re-rating?

We all knew it couldn't last for too long...maybe now we might finally see some common sense with the options.

With the shares trading at 8c and assuming no premium, the 5c options are worth 3c...but with another free 5c option attached for early conversion, currently valued at a conservative 4c per share (1c premium), the arbitrage here is amazing.

Buy 1,000,000 options = $35,000 (3.5c)
Convert to shares early = $50,000
Total outlay = $85,000

Script position after conversion:
Shares 1,000,000 = $80,000
New options 1,000,000 = $40,000 (assume 1c premium)
Total position value = $120.00

That's an arbitrage bonus of $35,000???

I suspect the options will be like hens teeth tomorrow...I am expecting some serious appreciation here.

Cheers!