first I apologize if I have upset you.You still haven't...

first I apologize if I have upset you.

You still haven't explained why you compare a $61500 investment to a $54000 one.

For the 3rd time - before the shares go ex rights they have more leverage.

I think your example suits your arguement so no point in arguing with you.

I don't get why you think the options will only be at 2c when the SP is at 6c after they go ex (I agree they will be before the shares go ex) - When the shares last peaked in the high 5c area the options were above 3c - if we use reality (about 3c for the oppies if the heads are 6c) in your example you would make $108,000 v $93,750 + adustment for the higher options)

Why don't you just use 6c & 1c - that would make your case even stronger.