Correct
And if SP rises to 0.10 (fingers and toes crossed)
You can effectively trade your 100,000 options for $0.02/share = $2000 (= 0.045 total ($4500))
for 100,000 shares at 0.10 ($10,000)
This is the beauty of the leverage the oppies give you - more "bang for your buck".
The flipside is the risk that SP rise takes longer - and you end up underwater on the oppies - and they expire worthless - a total loss of $2500 in your example.
Bigger risk and bigger reward.
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