ASX Today, page-6664

What are most LT thoughts around options play out

If flow is good then by July

1: Sell Options for profit
2: Use proceeds from 1: to buy more heads
3: Pay 2c and exercise option for some heads

I know at least I will want to get original capital back of total heads/oppies thus far, and then run with what is left

My Cool head states really should be out of oppies just prior to flow (or reduce exposure) (just for the slight chance flow are not what market expects, no doubt options price would dive in that case, but

From a 88E point of view, I'm sure they want all options March 18 options(413.8 Mil) converted to reap $8 Mil

Interesting part is to see where heads sp will be close to options expiry (especially if flow results are good, the options will have value right up to expiry, and some might be willing to part with good coin to get chance to convert @ 2c) I'm sure they will be wider than 2c spread

Argh I need a beer or two......(Swan Draught on tap thanks)

Then a few Jacks, followed by some scotch on rocks to call it a night

Laz what is your spin on oppies?