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By Tom Winnifrith | Friday 1 December 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I am not sure who has these 70 million options but the bad news is that they lapse at the end of December....
If you held these options in Uk Oil & Gas (UKOG) what would you do?
a) let them lapse
b) exercise and sell enough to cover your costs?
c) exercise and flog the lot?
I put it to you that no-one says goodbye to free money so a) is unlikely. Its either b) or c).
The shares - now 3.55p bid - are down by almost 30% since the signing of a £10 million death spiral even though just 1/10th of the spiral has so far been converted into shares for duming. Bulletin Board Moron buying interest is now drying up so now we face not only the DS provider trying to sell asap before buyers disappear altogether ( and not caring at what price it sells) but a stack of option holders making the same call.
2p by Christmas? Keep selling.
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