Jarrody - respect your opinion, and (with respect) I don't think...

Jarrody - respect your opinion, and (with respect) I don't think you are usually wrong . . BUT, if the heads did manage to trade at 20c (as many here have suggested, if there's good flow) then the options just couldn't trade at 1 or 2c could they? People would buy options, pay 10c and convert them.
Heads and options should have _some_ sort of connection at somewhere round 10c difference.
I think there is plenty of cash available to big instos or "high net worth" individuals who can find money to convert options if they think it's worth their while.

But time will tell.

RR