I am very long WHNOs. But I don't expect the oppies to move in lock step with the heads (i.e. track % gains), until the heads rise above 7.5c exercise price.
You have to remember that the oppies expire 30 June 2012, less than 9 months from now. So any time premium is starting to diminish now.
However, I hold the oppies because of the expectation that company making news, and in particular a farm-out agreement, will massively appreciate the sp and the oppies will follow.
I am very long WHNOs. But I don't expect the oppies to move in...
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