PENOC vs PENOA
Hi Guys
Can somebody/s with some spare time please expound reasoning for the market premium on PENOC as opposed to PENOA.
I understand that exercise on both is 3c and the OC's have a 2 year longer expiry.
As both PENOC and PENOA are effectively in the money and it would take PEN to be as low as 3c for them to expire worthless it seems to me the PENOC premium is all fur coat and no knickers.
They both seem a safe bet and the PENOA's which are often lagging 3c behind the PEN's are fantastic leverage.
Some Arbitrage is also likely when PEN runs thruugh the teens later in the year. (as seen on SSNO and AVBOB)
appreciate any responses...
penoa vs penoc
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