I know exactly what time value is. I think the premium paid for the oppies is too high given the share price of the fullies has to be in excess of 6 cents before you are in the money with the oppies compared to fullies at today's prices ... and that means increased risk.
What if there is a take over offer tomorrow for 4 cents a share? If you held oppies, you would lose money as you would have to exercise them immediately. If you held fullies you would more than double your money.
You say ... "The fact is at 6c, the options will be trading closer to 4c with 2 years to expiry."
What do you mean by this? The share price is currently 1.5 cents and the oppies expire in less than 2 years from now ... 30 Mar 19.
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