This makes no sense whatever! You really gave this zero thought!
If you wanted in you have 3 choices...
1) buy the options at 23c and hold at prices lagging the heads
2) buy options and exercise with total cost of 25.5
3) buy the heads at 28
If the price falls 4 cents to 24 next week, the options will probably fall 5 cents, so option 1 not great.
If you went option 3, you would be down the 4 cents
If you went option 2, you would only be down 1.5 cents!! Why would you be stuffed?
If however you think the price might fall, then sure, you are better off waiting. But will it fall? If you believe in ASN medium to long term, then option 2 is in fact a great move!
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ASN Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
