On the subject of SP3 company options, which are exercisable by...

On the subject of SP3 company options, which are exercisable by December 2020 for 20 cents per option, I was intrigued to notice that on Tuesday 8 May, 112,000 options were unloaded, mostly for 20 cents per option, at a time when the underlying security was trading for around 37 cents. Now unless, I'm missing something, that implies the sellers of a reasonable bucket of options last Tuesday thought that a 2.5 year implied current time premium of 3 cents per SP3O was poor value.

As I said, I may have missed something, but it seemed to me to be extraordinary value, and I was happy to match out quite a lot of Tuesday's SP3O sell volume on the buy side.

zeno9