I've looked at the tabular data for the past 50 days, and the average difference between the head and the options is about 2.7c. Today, the options are price at 3.2c less than the heads.
I don't really understand this as there are 2.5years until expiry, so I would say that the difference should be far less than the current 3.2c, irrespective of the 5c strike price.
I can only think that there are a lot of newcomers/traders who are on the heads, and prefer not to buy CCCOs. However, anybody with an investment timespan of greater than a few weeks must surely recognize this opportunity of half a cent before the gap closes once again.
CCC Price at posting:
82.0¢ Sentiment: LT Buy Disclosure: Held