Zion Oil & Gas Inc (ZNOG)

[Moses1492]

Don't sell for a 5 cent (10% gain) Bruce. If you think we may or may not reverse split then you still should have sold March $1 covered calls for 67% profit at 30 cents lol -really true unbelievable right! If we reverse split, the options will remain but be adjusted for the split so no loss except for profit over $1 adjusted for split if... However it gets better for option sellers, if ZN doesn't go over $1.00 and they don't elect to reverse split its no big deal to simply move over to the OTC market (just like SDRL did recently) and the BEST part is that the options immediately expire worthless so you get to pocket your full 30 cent option gain once Sept 2020 passes w/ZN under $1. I don't think ZN is particularly concerned if they stay on Nasdaq. Not only do they have to pay 10-30 grand for this "privilege" but it also means a lot more paperwork compliance. Its not like we have tutes still investing in ZN. Last reported the fund holders of ZN were around 2% (down from 15% years ago). Dilution of ZN stock is the #1 threat to ZN price going above $1. Think about it... @$1 ZN pps, the market cap of ZN will be around 200 million. Don't think that will happen by next month. Tutes like selling ZN options for profit but keeping the price above $1 is going to be a very heavy lift. Unless God intervenes of course! Play it safe and sell Jan or March options: $1, $2, $3, $4...

Blessings!