gearing is a better than you mention is currently 5:1...

gearing is a better than you mention is currently 5:1 theoretically it should move in tandem with the heads now we are above the strike price. however far fewer options are available. Still dont see why you don't put a 5th of your money on the options instead of the heads noting if cambay doesn't come right the company is worth a fraction of its current value. Its clear some holders do not simply understand options they are no more or less risky than heads if you take the leverage factor into account. Lets hope some strength is shown on the AIM tonight would be good to crack the 10p mark on good volume