AVZO options, page-549

I'm only holding Oppies in my SMSF @12.7 cents average.
With my 2.45 mil holdings I'm on a very healthy 1 Bag and will continue to hold and watch from the background in HC land.
I am slightly curious though with the rational behind Wombats trading strategy to convert.I understand the leverage and conversion date etc but what would be the benefit by converting last week.
Would he have not been better off just using (I Think about $89k from memory) to simply buy more Oppies or due to lack of supply simply buying Heads?
Can someone please enlighten me?
Thanks in advance.