In the next two months, holders of the OB's have a few decisions to make and it all depends on their liquidity. To sell before expiry, to convert or do nothing.
If we look at sell, then that might have a downward pressure on the options if more decide to sell than to convert.
If more decide to convert, they have to find the extra 11c a share to fund the conversion, if they own OGX they might be tempted to sell a few. When the price was over 22c it would have looked good, converting 2 OBs for 1 OGX. Not so good now.
The doing nothing option would only come into play if the Heads (OGX) dropped below 11c.
So depending on how the other investors financed their OB purchases and possible conversion and the reasons behind the initial investment, that will determine the SP up until Nov 30th, more so than POG or announcements.
I have been in and out of OGX since 2012. Looking for my entry point again.
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