ggpo penny will drop, page-40

No question is dumb
ok the purpose of oppies is for THE COMPANY GGP to have a way of gaining money.
The 8 cents due in August is to be paid to the company. You fill in a form showing your holding and send it along with a cheque to the company. (oppies x 8 cents). That is if you want to "exercise your option". As was pointed out earlier today you want the full share price (heads) to be above this in fact above 8.3 to make it worthwhile. Along with a timeframe to make it viable before August.
What those of us who have bought oppies are betting on is that GGP will be above that figure before August and anything more than the 8.3 will be a profit.

Alternatively,
As GGP increases in price GPPO will (we are hoping) go up how much we don't know. What we are hoping is that there will be enough supply (buyers)to trade the oppies or some may have enough funds to pay for exercising the oppies.
In some ways its a bit like pass the parcel you dont want to be the last one holding.

Options are usually less than the heads because of the time and exercise payment to be made

Having said that should GGP go above 8 cents which I personally am counting on then some oppies can be sold to cover the cost

Hope that makes sense if not please ask more questions others may be able to provide a clearer picture.