Sure, there can be huge gains, it's called risk versus reward. I'm not sure when or how you got your oppies. All I am commenting is on the situation right now if someone were to decide whether to buy the options or fpo. Right now, with 9 months to go, oppies can be bought at .7c, the exercise price at 10c, when the share price is currently 2.7c, seems like a big risk to me. Time is against it.
To get your 1000% return on the oppies as things stand right now, the oppies would have to get to 7.7c. 10c exercise price means fpo would need to realistically get to around 18c. Currently it is 2.7c, you'd be getting a 500% return anyway with much smaller risk.
For risk versus reward right now I'd be going the fpo.
FAS Price at posting:
2.7¢ Sentiment: None Disclosure: Held