option leverage

It will be interesting to see if any experienced player tries an option play.
For example:

Currently with shares at 17 & options at 5.7 the share/option ratio is 1 for 3. In other words if you want to change from shares to options, you would sell one share and get 3 options. Alternatively if you are an option holder and want to change to shares you would have to sell 3 options to buy one share.

For example if you own 100k shares and change to 300k options at the same cost, upon the share price increasing to 40 cents, the options will be approx 26 cents.
Your original shares (100k) would now be worth $40k but your new 300k options are now worth $78k !!You are clearly better off holding options than shares but be careful to make sure you buy your options first (if money allows) because any quantity in the options will become harder to get as the price increases.

As the price of the shares increases to 60 cents you could then reverse the strategy and sell your 300k options at 46 for $138k and buy 230k shares at 60cents. This would give you a net gain of 130k shares.

Note that there are only 20 million options on issue and the top 5 parties own over 50%. I'll be very surprised if any larger lots of options will be offered at these levels.

Based on the above, I would be paying a leverage premium over and above the time premium. If the shares got to 20 cents over the next day or so, I would expect the options to be trading at the 9-10 level.