AVLOA, page-4

Nobody has a crystal ball, but go overlay both AVL and AVLOA on a chart and look at the price differential over time. I've never seen a time where absolutely NO premium has been built in. Sure I expect that a month or two before expiration, but in all honesty I've never seen it this far out.

I would expect it not only to move up with the share price, but soon a fund manager or two should see the difference and jump in, possibly resulting in that premium coming back in. In my opinion it is our new investors that are happy to sell the options here to lower the cost of the shares they'll hold on to for a while. Well, that's what I'd be doing if I got them so cheap. Obviously there's always risk, and when something is "given" to you I find it holds less value. That's my opinion anyway, and the reason we are still able to get them with no premium built in. DYOR