Definitely massive leverage potential with the options. Hyperthetically, if the heads (SUM) hit $1 per share (MC somewhere around $50m) then the oppies (SUMO), with an excercise price of $0.25, would be around $0.75 (but probably more likely around $0.80 when some time value etc is built in). Thats approx. a 15 fold increase on current levels.
The expiry is still over 1 year away (30 September 2025), so quite a lot of time to get assays etc back from Brazil.
IMHO / DYOR
SUM next WA1, page-69
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Last
21.5¢ |
Change
-0.005(2.27%) |
Mkt cap ! $15.45M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 22.5¢ | 21.0¢ | $203.4K | 936.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 13116 | 2 |
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| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| SUM (ASX) Chart |