The risk obviously relates to what would happen to the oppies if the announcement tomorrow is not positive. With a month to go till expiry, the risk-opporunity trade would be leaning towards risk. HOWEVER, this discounts the context in which GDN is currently trading, which hint cautiously at some serious commcerical prospects based on the announcements released to date.
If the announcement tomorrow is positive (I'm personally leaning towards this eventuality at the moment), I expect the heads to open up at 20+ and grow in strength which in turn makes the oppies a relatively low risk carry. Tomorrow, we could easily see a rush for oppies on the back of positive announcements; well thats what I'm hoping for anyways.
Disc: I hold both GDN and GDNO
what aren't the options moving away?, page-17
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