Like your thinking MA. Oppies have good time value and probably...

Like your thinking MA.

Oppies have good time value and probably offer the best leverage IMO. Last BRR I'm sure Gary said Mid-Jan so that to me means no more than 2 weeks from today. As a betting man (and who on HC isn't!) I would suggest Wednesday / Thursday next week or the week after - don't want to see an after hours announcement and expect a TH - maybe called on a Friday afternoon or a Monday morning.

If it's a good announcement they want to create the most exposure possible and let people speculate over a weekend - remember the major reason for getting the JORC out ASAP is so PDY can get the May 2010 listed options converted so they need to be well in the money with only a few months to expiry otherwise a major Cap Raising is on the cards....