You can currently buy approximately 3 oppies for the price of every one head. As heads go up it is going to get harder and harder to buy oppies on that multiple.
Significant leverage but greater risk if there is an issue with financing.
With heads at 3c, oppies will be about 0.9c. On my analysis I think it will eventually get to the point where value of options is trailing the heads by 6c to 7.5c. But look at the calculation of bags of profit.
BAT Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held