100 People will probably answer this better than me.
They are "call options" which means you have the right but not the obligation to buy shares at 8c on the expiry date but not an obligation.
If the share price does not reach 8c by the expiry date you would not exercise your right as you could buy them cheaper on market.
The price of an option is influenced by lots of things such as volatility, time to expiry but mostly by the value of the share you have a right to buy which is why an option has some value even when the sp is below the exercise price, personaly I like to think of it as speculative value.
So what punter are hoping for is the share price rising to something like 10c which would mean the option is worth 2 cents.
Today you could have bought shares for 1.2c so at a 10c sp you have had a 8.3 fold return on your money.
But you could have bought options at 0.002c so with a sp of 10 they would be worth 2c being a 20 fold return on your money - nice work if you can get it.
Remember all this must happen before the option expires otherwise they are not worth a brass razzoo.
GGP Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held