2c Option conversions not in profit.The big danger here is that...

2c Option conversions not in profit.

The big danger here is that if they end up underwater then they decide to sell at 2c to get their money back. This likely ensures a ceiling on the share price of 2 cents.

If the market continues to melt down (Dow sank again big time last night) then it is possible that those who converted options will sell for a loss.

Well done to those who sold at higher prices (even at losses). The hardest thing to do in the market is to accept fault and crystallize a loss. But it is these people who will live to fight another day with lessons learned.

Besides rare daytrades, I still remain 100% in cash and will employ this 'war chest' for when markets bottom whether that be in 3 months or 3 years. As the saying goes "only fools rush in"