The oppies prices have held firm, and in fact increased, despite the head price yo-yo'ing up and down.
This to me means one of three things IMO:
1) People buying oppies are being ripped off compared to the price of heads;
2) Heads are being DT'ed the F%&K out of; or
3) LTH see the oppies as sensational value and are cashing in on the leverage opportunities and long term maturity dates.
I am personally sitting in camp 3, having about 4:1 oppies to heads at the moment. I am hoping the SP is much higher than it is right now by June 19, and want to be exposed to the heads whilst being leveraged up by owning oppies that will move roughly in line with the head increases.
I hope that others are holding/buying oppies for the same reason as that displays confidence in MXC going forward, and if the price is anything to go by at the present - i think thats the case.
GLTAH and IMO.
MXC Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
