Options insights, page-9

Not sure what's up/causing this run in SP, most likely given Daily Volume is way up, the instos/fund managers have ARU on their radars finally, and not wanting to miss the boat on ARU/Lynas 2.0
Already own some oppies in the SMSF, but decided to up the risk profile a little and sell 68,000 ARU @ 0.455 to fund the purchase of ARUO 300K @ 0.105 so for an extra $600 investment I got an extra 232K exposure from 0.445 Only drawback, wish I was over 60, and wouldn't be up for the 15% super tax on the $10K profit from the sale. Better making a profit and paying tax than accumulating losses.
PS my option pricer is telling me that at 0.46 for ARU, the oppies should be trading at/near 0.15 (and that's using a measly/incorrect 30% 12m volatility !! and 468 days to expiry).
Me thinks the instos are going for the ARU shares cos there's just not enough liquidity/available ARUOs for them to get any meaningful exposure.
Any thoughts out there ?? Anyone else pricing the ARUOs with some meaningful accuracy?

Still riding the ARU beast to the tune of 2.4mil shares. The BBB (PS my name has nothing to do with a bear market/being a stock bear, I'm bullish bro, on most stocks)