ST Trading discussion, page-278

When the options are allocated they will cost $0.0001
Lets say you have 400,000 heads, and you take up your entire options entitlement of 100,000

100,000 x .0001 = $10 cost

Once the options are listed, lets say designated TV2O, they will lag in price behind the heads usually by around 3.5c (as the exercise price is 4c)

If the heads SP go to 5.5c, then the options will trade at around 2c
If you sell your 100,000 TV2O which cost you $10, at 2c you will end up with $2000

Thats a 20,000% profit