Sundance, a key point to oppies is whether they are tradeable or...

Sundance, a key point to oppies is whether they are tradeable or not. in this instance they are listed. this means that they rise in value with the SP & as they are traded the cost of them rises for the new holders (assuming the sp is rising). Therefore only the oppies that have never been traded or traded before they were in the money could be used to drive down the SP.

If I buy the 1c oppie at 1.2c then the all in cost is 2.2c, same as the heads, but with less capital (just over half) tied up for the same exposure. Would take something pretty dastardly to make the 1c oppies fail you would think.
Given tnhat the 1c oppies are better use of capital than buying heads I would expect they lead rather than follow the SP movement until at least the oppie up front cost is say 70 to 80% of the heads (head price of low 3's onwards).

the current ratio of 1.3c:2.3c being 56.5% (meaning you can use 43.5% of your intended capital elsewhere until oppie expiration.

Obviously many small time investors dont play with oppies so it's not a hard and fast rule.