SPQ chart, page-2439

would have to disagree nearly.

example if I hold substantial position in SPQ with average of 1-2c, why wouldn't I be looking at let's say 0.5m options for $5k (1c buy)?

could go either way but with a substantial position $5k is nothing in reality and you could sell some of ur original position in future 200,000 at 12c to then fund ur 500,000 options at 6c excercise price.

net gain of 300,000 shares for very little risk:

other side is u loose 5$k. but very limited risk for substantial holders in the 1-2c mark as you say.

food for thought.