not that simple imho. oppies are a good bet when the market is bottomed and you have two years before you need to make a decision. what you are saying is that in a bull market fwl would not have a sp over 26 cents and that no good market is going to occur for two years? at 1 cent it is worth a dabble to find out. if not, it is hardly going to be the loss of the century. oppies give much better leverage if the price goes up than shares. dyor.