For example with the GRK ops: When you buy them at current price do you then sell them at another date set by the company???
No, you can sell them whenever you like at whatever the market value is.
Do you then get the chance to buy them fully out at a certain date???
They "expire" at a certain date, which means you then either have to pay a certain amount per option to convert them to shares, or you just let them lapse (losing the money you paid for them, of course).
How is the money made on them compared to a normal share??? And why are they better value than a GDY option??
They're cheaper. If the ordinary share goes up, say, 10c, then the option will generally go up by the same amount as well. However, because the option is cheaper, 10c will amount to a much greater percentage increase as compared with the percentage increase in the ordinary share.
Some other information: if the price at which you have to exercise the option is less than the current price of the ordinary share,the option is said to be "out of the money". If it's greater, it's "in the momey". If you buy options that are out of the money, make sure that you have a sufficiently long time before they expire (options have "time value").
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For example with the GRK ops: When you buy them at current price...
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