suspicious activity, page-27

I suspect the options will lag somewhat cause they are of no value to an arb player covering AIM buyers so my guess is that when the shares are at 30c ;) the options might only be 23 or 24c so the temptation to exercise early will be there to extract the extra value. I am only making this assumption based on the lack of intrinsic or time value or carry from a risk free investment rate (current AUD term deposits at around 6% are still Federal govt guaranteed up to $1m).

It might be that the market prices them more correctly but at 30c in the heads the correct option value is only about 25.5/26c anyway so near enough.

In some ways it depends how many you own too - for some it may be easier to exercise and hold the more liquid shares if you plan to sell.