i actually know that the expiry date is june 2012. in my experience options like this become quite volatile about one year from expiry. although you do have a point in that the OA's are well in the money at the moment, but you know in this game anything can happen! i guess for me personally, paying a relatively small premium was worth adding 3.5 years to the expiry & the corresponding reduction in risk (to some this is a small amount, but to me it's just for peace of mind). :)
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