fluffynymph...
The options buyers were also "playing with fire" when they were paying 3.5c when the heads had just risen 40% and were looking under pressure at 13c.
That day the heads retreated back to 10c...which was not a good look for the options!
With the heads now at 26c, that seems like such a long time ago.
You are right though...there is a risk here that needs to be measured...but for mine it is still a buy. There is also an swap game at play...sell shares (lock in profit)and buy the same number of options (keep the same exposure).
Options expire June 2012...not tomorrow...lol
No risk, no reward.
Cheers!
classic hydrocarbon re-rating play, page-5
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