Oppie squeeze. OC holders who were planning on selling heads to convert and haven't done so already are being squeezed to sell at a far lower price than planned and approaching the point where their OCs become worthless.
27th march is the last OC trade date. Crazy action until we get past then.
Options are powerful things. But they can also end badly if you haven't planned for the expiry date.
oppies, page-110
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