Have a read of this thread Nick. I held some VTXO options many moons ago. I managed to dump them without losing too much skin but it was risky.
Thread
https://hotcopper.com.au/threads/options-v-heads.2532852/#.WWdk89N95E4
Post
https://hotcopper.com.au/posts/15448661/single
I am certainly no expert on options and it might pay to ask around more widely. There are some good posters around who will have a better opinion than me on this topic. @forrestfield is a good poster in my view.
Cheers
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