I converted half my options to shares last week and then sold them today to recycle into more options. Only got a 0.3 cent arbitrage for a $1500 gain. Could have been greedier and picked up 0.5 cent gain per share but didn't want to be stuck if the share price went southwards. No CGT to worry about.
I don't understand people's opinions that options won't get exercised. If people don't want them they will sell them on market to someone who will. I assume there will be a fair bit of volatility tomorrow and Monday.
Ann: Zapato-1st Drilling Update and Option Expiry Reminder, page-59
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