why no interest in the oppies, page-6

Agree. The leverage on the options at the moment is about 1 (ie no extra leverage) and if the company stays down they will expire worthless.

Maximum leverage is from about when the heads price is about 1.5 to 2.5 times option exercise cost where leverage is about 2x typically (ie heads 30c, options 15c to heads 50c, options 35 cents - a 133% gain on options vs a 66% gain on heads.)

I'm overloaded with lots of options in many companies which where close to the money though now very much out of the money at the moment so I went with heads on this one, otherwise I have to either cough up conversion costs (now running into the $ hundreds of thousands just on options that expire Nov 2007 & May/June 2008 or pay full CGT on gains before next June.

One advantage of options though is that you have almost as much to be made per share and less to lose per share if things really turn pear-shaped.