You say the share price is getting hammered lately... here's the daily chart (today's candle isn't shown but had the same closing price as yesterday's anyway).
If this is what you call the share price being hammered I'd love to see a chart you think looks good!
I'm glad these options were pulled. It wasn't especially bad to have them there, but there's no reason to get rid of them unless there's an expectation the price will go significantly higher than 27c
27c is a pretty significant level; major resistance is at 26c, no one has paid more than that since shortly after DEL was first listed. Once we clear 26c there will be very few sellers remaining. 27c was probably quite a strategically chosen rather than just a relatively random figure. Given virtually no holders would be especially upset about directors being able to buy at 27c (since anyone who bought in during the last several years paid less), it is surprising the options were cancelled, but it's a positive, unless they replace them with cheaper options, but that would be extremely bad optics so is unlikely.
The reason it happened could be that the share price has run up quite quickly over the last few months meaning the optics of issuing these options only a little above current prices would be bad. Again, tbis would be a positive.
DEL Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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