It's just the beginning for Spenda!, page-10525

Opies value = excess of sale price over acquisition price. In theory, the value is positive as soon as the SP is over $0.025. But holders must consider the volume of shares that could be sold. There are 611mio of SPXO shares on issue. Obviously current markets depth may not reflect actual conditions when those options are converted and related shares potentially sold, but currently, you would incur a $0.05 cost just to sell about 50mio shares. If the SP ever gets close to the $0.025-0.03 range, you would need a lot of very optimistic holders to convert the options and hold the shares for longer. For all those who have bought them speculatively to realise quick gains, they're probably looking at a SP well above $0.04 range to monetise any value. That is not scientific but my own estimate. And to some extent the selling pressure would increase with the SP so it is a tough ask... I would expect also a lot of selling pressure on the options themselves if we see any sustained rally in the underlying shares. For all of us, this is speculation. For SPX management, this is something they must consider in their "careful planning"... It is unlikely they would receive much of the options exercise unless the SP is very significantly above the strike. See ya all on Friday...