Wondering if someone who knows about trading rules and option expiry would know what happens when options are in the last few weeks of their life. I've been following AZROA (exercise 31 January 2005 at 20c, just out of the money at the moment and selling at $0.004) Some discussion of it here (but not answers) http://www.aussiestockforums.com/for...read.php?t=460
The AZR co annoucements say they stop trading on Friday 21 Jan 05 and options have to be converted by 31 Jan 05 via application form.
So if someone holds options on 21 January at close of trade does that mean the only thing you can do with the oppies (apart from letting it expire) is to convert them (assuming they're in the money and you have the money to pay for the shares)?
I trade through ComSec and I assume that after 21 January AZROA will no longer be accessible via their trading platforms/website.
Any help would be appreciated.