bltob last day of trading, page-4

I think you will find Friday 20th Dec is last trading day for the options.

Never say never but they will likely expire worthless.

Sub holders stand to loose the most but they will gain by not being diluted.

Nantrix... Options to buy shares (BLTOB) are given away (usually) in a capital raising. They have a target price, here it's $1.25. You can redeem them if/when the SP gets to over that price. Trading them is always a risk, especially in this situation when the price drivers are likely to be after they expire.