I think we will start to see more and more options converted in the coming weeks and months to March.
Even if they weren't in the money, with poorer and poorer liquidity the closer to expiry in March...Some will bite the bullet and covert at 6.25c rather than let their initial investment perish...Paying the 6.25c to convert to heads is still better than letting one's options expire and buying on market at current 100% premium on option conversion price.
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