You are using approx x4 leverage on the up and down side...

You are using approx x4 leverage on the up and down side currently... I think you need to be very confident in the company to take this bet.

For 6 months left and some great upside it probably is worth the bet at the moment. In slower ANN periods and little upside coming in the ST then it not worth x10 leverage- IMO.

It is very interesting to look through the options list to really see the current sentiment in the company. Under 6 months left is short, yet these guys will be doing quite a bit over this period.

There is however a LOT of shares on issue. To pay 10c per share on or before 30th June seems like a lot in my mind. Yet if the current find is a commercial level oil find then you will be a winner- IMO.

Eg. Heads SP= 4c 20K punt
Oppies SP= 1c 20K punt

Upside Heads =20c Worth 100K
Oppies= 15c (Say if over 2 months remain, 12c if near due) Worth 300K to sell on market

Downside Heads under 10c on 30th June...
Oppies worthless

I will stick to VIL heads for my money currently.