My sense is the SP will mostly stagnate for other reasons that have been widely discussed here, until there is company-making news on approach. When that time comes, I don't think approaching option conversion will be too much of a concern as it will effectively represent a 5% difference in the divisor of the theoretical market cap target, which in turn will be multiples of the current SP.
I consider this effect to be very diffuse. After all, purchasing decisions tend to consider the difference between current SP and fair market value and for those who price in the options on the 2 year horizon, the fair market value on that same horizon should still be at least an order of magnitude higher than the current SP, and around double the SP all time high.
IHL Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
