How did I sell out too early Nobby??Yes, I did sell my options...

How did I sell out too early Nobby??

Yes, I did sell my options instead of converting them, but that was because I wanted to lock in my 50% CGT reduction.

And yes, I did make the assumption that the heads would drift down due to the increase in the number of shares from option conversion.

But that didn't happen, so I bought back in the high 40's and low 50's when the price started rising on significant volume.

But I also knew the following:
1) If the resource upgrade came in well above expectations, the SP would sky rocket
2) If the resource upgrade came in on par with expectation, the SP would rise slightly
3) If the resource upgrade came in below expectations, the SP would slowly drift down until further news was due to be released

Which one of those scenarios do you think happened?? In my opinion, I think it was option 3. Therefore I sold it on open on the day of the resource upgrade, on the expectation it would drift down for a while due to a disappointing upgrade (as per market expectations of a much better one).

Allow other people to have opinions mate, that's how the markets work. And in this case, your SHORT TERM opinion was wrong, even though your medium-long term opinion might be right. But that won't play out or get proven until closer to more significant market releases.

Cheers