Technically the options are expensive in relation to the FPO's as you know but imo are a good barometer to their success, coupled with what the two main players have in them.
Being a holder for many years I've got a few for free from the 2c raising along with board members and other holders and we expect them to be worth a lot more than what they are now.
The FPO's are in a cheap position obviously imo going off the strength and price of the options. The market seems to price them for success in conversion.
Or a takeover
Trading wise, they generally move before the FPO's and generally are an indication of a nice up in the FPO's to come. From what I've seen and experienced in another company.
Options rarely convert but when they do everyone makes a lot of money or owns a lot of a company worth a lot
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