"Who would be tempted to cash in some (many) shares if you received them at 1.5c and the going price is 5.7c to 2.8c?"
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Dude.... your naivety is showing. They didn't "receive them" at 1.5c.
Do you even understand how options work? That 1.5c per option is just the "balance" owed on the original purchase of the options at a lower price.
How much they each paid has 2 components (plus brokerage) - the original cost, say 2.0 cents PLUS the "strike price" for conversion of 1.5c = 3.5c. You can't say how much it cost them until you know what price they paid for the options.
Furthermore, you can't presume they would sell any more than you can someone who bought heads at a total cost of 2.5c/3.5 or 7.5.
Some people here see option buyers as opportunists who "get in cheap". Sure we get in cheap. We also take a LOT more risk in that options are far more susceptible to TOTAL loss during downturns.
We take that risk... we get that advantage ( leverage).
Disclosure: I had a shitload of XPE options.... I don't any more, however I DID NOT SELL. I converted to heads and intend to hold them for YEARS.
ie I'm one of those nasty people you incorrectly thought sold out causing this panic.
XPE Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
