some serious buy @2.3, page-53

I think we are all saying the same thing. If your of the belief that pen is at its lows and will move north sometime between now and the next 12 months then a small strategic amount of Penoc's can really bring home the $$$. They still have almost 2 years till conversion.

I had a good comparison chart at one point of the options following the heads when PEN went for its runs, can't work out how to replicate it on 'incredible charts' but basically when PEN really got moving past about 8+ cents you really saw the options fall back to that strike price gap of 3c behind the heads. Now for arguments sake say we have a heads at 12c (moderate U spot spike, PEN comes into production, not impossible in the next 2 years)the heads go from:
2.4 to 12c = about a 5 bagger
Penoc's:
.9 to 8-9c = closer to a 10 bagger

Wouldn't put it all on the C's though, but a couple of spare K's and its worth a punt I say. I think it was Pewel who got in at .007 maybe he should change his name to Bond, great buy.