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I don’t think you’ll ever see 2.5c exercise options at least 2.5c below the heads. Because if they were people would buy as much possible, convert to heads immediately and sell the shares. That’s arbitrage at its best. And any arbitrage opportunities get swallowed up very quickly in any market you invest in.

I’ve been buying options lately for two main reasons:
- I can buy more heads now with the same amount of money. Then if I want to convert in a year or two’s time, I simply either sell some of my heads or sell some options to convert some.
- As mentioned by Kotaredrew, the options usually stay below heads by 2c. So if BCN hit 10c in a year like a lot of people have predicted, the heads will make 150% ROI whereas people holding options will make 300% ROI. I know what I’d prefer. Obviously the downside is riskier as a decrease in price by 2c will cause a greater loss with options than with heads.

2020 is going to be another huge year for BCN. 90% of their main tenement to explore still, exploration on their other tenements as well, a possible acquisition or something big in March as mentioned in the AGM and other acquisitions throughout the year. Still see this as the safest place to put your money at the moment while still having a lot of upside.