I was talking AUD$ values as this is what NCM will be quoting in their their profit reports. I actually used US$1.50/pound for my figures. When the AUD$ was .65, NCM was rolling in the money on the conversion. Now at .80, it has moderated a lot. As I said, I hope to be very wrong on Monday. In any case, I will be selling covered calls with a strike of around $34.50.
