Accumulating a few more options 0.5c, 8-1 LVR on heads at 4.2c Would not get that discount in a buoyant market, more like 4-1, even 2-1 But when any bullish trigger emerges, and heads move up, that bullish sentiment will wash into options, and tighten the spread. There can be a double gain on options, in that respect, it is a tightening on sentiment, rather than an extreme movement on heads to do the same percentage gains. We can also get interest in the options from bidders wanting a smaller exposure dollar wise, to offset any reduction in heads they have taken, but remain leveraged to success.
