I have about half my 88e investment in options. One thing I like...

I have about half my 88e investment in options. One thing I like about the options is that when the value of the heads rise, the options generally rise accordingly, trailing by the 2 cent conversion price. This means that relative to heads, options increase in value by a greater percentage. For example, if heads rise from .05 to .07 (40%), then options will rise from .03 to .05 (%66). This is especially the case when the conversion price is large relative the price of the options, as in the case of 88e. In this way, by my thinking you get double leverage: firstly because options effectively let you buy heads on layby, secondly because of the increased relative growth against heads as the share value rises. Yes, these advantages of options are partly offset by increased risk, but still well worth it IMO, especially in the case of 88e!