not sure, but for option i think there are only 2 element why it is discounted to head:
1. time to convert, people think it will goes down while it took time to convert 2. market scepticism, from my experience, some people(like me :X) find it a hassle to invest to option and not very understanding of it so they choose to ignore it.
idk.. like currently.. lazy 9% gain (if price stays but i doubt it) but im not buying.. i could sell head and buy option but i think by that time price will go down although i think it wont go to option price, but im not gonna buy big volume so it feels like extra hassle
just my 2c. did you buy any? i think you could make 3% with high certainty.. just my opinion ofc
