Couple of things.
- You are paying a 0.3c premium on the options to convert them to shares. i.e. the current 0.1c options are equivalent to paying 0.4c for the shares.
- Options expire, so in general, if the shares do not reach the exercise price (0.3c in the case of CAD, so they are already "in the money"), then they expire worthless.
There is usually a time premium on the price of the options. i.e they are worth more than the share price - the exercise price, though for penny dreadfuls, this doesn't always follow.
The options at 0.1c are a bargain, since the are already in the money and see a 100% gain for each 0.1c move of the main shares.
HTH
intsol
Running away, page-31
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