It all depends on how much the SP rises above the option strike price. As posted before, technically they are worth nothing until the sp rises above 10c, but built into the price of them is the time factor plus the fundamentals of the company. When a company has the right fundamentals, the options will show that in their price.
Not really sure what goes on with a takeover though
Hope this makes sense
Looking forward to tomorrow morning
Cheers to all
monster hit, page-38
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