AUR options, page-19

given that the options were issued at 0.2c, there is still an over supply overhang that is making them still cheap compared to the leverage they offer.

wash a bit more of that out, and it wouldnt surprise me to see lvr nearer 4-1 x

eg. bullish scenario - tv2 has options 4c strike, heads 1.8c, ops 0.8 = 2.2 x

the difference between now and last week is that we have buyers outside of the loyalty options swamp, now buying up. fresh momentum from Outsiders. A wake up, to those who were giving them away .