So ACW said they would finish enrolment by the end of the calendar year and have results in early Q2. Reality is they finish enrolment mid-October. They could have results early to mid Q1 - well before the options expire. I always thought that may have been the plan. They had been given no price premium because people thought they would expire too early. Now it looks like they have excellent leverage. I expect to see interest in the options increasing
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