it's a bugger re capital gains tax as it starts again once you...

it's a bugger re capital gains tax as it starts again once you convert. Howver the benefit still applies to options if you hold for 12 months which is my plan. So sell enough next March/April to exercise and get the cap tax benefit. April will then be the starting date for the exercised options which will still have significant time premium.
If say $1.00 next April for heads then oppies would most likely be around 85/90c with so much exercise time left