Given that the recent low was 74.5c and the "bonus options" are priced at 75c, (but as there's 6 months until they expire), let's hope there's amazing fundamental news soon otherwise there's a gap below (25/6/20 to start with) that will probably fill.
The chart looks terrible still. All news is sold off (like most other biotechs).
Trials within the revised strategy have been pushed out ... more retail funds are required to execute the strategy ... these options are effectively free "call options" and one (percentage play) investment strategy would be to lighten up holdings by 5% well (?) over 75c knowing you have 5% more shares available if the SP is higher at option expiry.
That's one way many might play this so the period until Nov 29 will probably be risk-off (for shareholders) with 90c being a 20% premium to the bonus option strike price.
90c seems like a key price point.
The good news is : should news push the SP well above 75c by (bonus) options expiry the resulting insider conversion will be the MOST SIGNIFICANT insider buying that I can remember.
It's going to be a fascinating 6 months.
Good luck DrT ... seems the magic in RAC has evaporated, let's hope you can rejuvenate it again.
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