Bursa CL

Some education on buying the proxy of a mother share
BURSA-CL >= 0.60
Maturing date = 09/06/2010
Conversion ratio = 5 : 1
Conversion price = 5.00
BURSA price now = 7.8
Calculation Assume you buy 1000 at 0.6, 5,000 share = 0.6*1000*5 = 3,000
Conversion price = 5,000
Total cost = 3000 + 5,000
= 8000
BURSA price now = 7,800
Premium = 8,000 - 7800 = 200

If the price of BURSA moves 1.00 from 7.8 to 8.8, the price of BURSA-CL will also move accordingly ...
The return on mother share from 7.8- 8.8 = 12 %.
If the CL move to match the fair value of 8.8, the new price is approximately 0.76, which is an increase of 0.16 (0.76-0.6), the return is 0.16 = 26%, more than double the return

In a bull market, there is always an urge to enter the market cheaply via a proxy of a mother share to maximise profit. The return is magnify many times but the risks as well when the market turn against you. Also, the expiry date is another factor to consider. Your holding can become zero when reaching the expiry/maturing date, in another words, you can't hold this kind of share for long.
You must always think of an exit criteria when you buy into proxy.