The options price is usually determined by the average trading price over a certain period, these were presented in oct where previously the share price was trading in the 60c range, and then continued to drop there on. If they waited a little longer they would have been able to lock in a better price.
Though I have no doubts that by 2021 they'll manage to achieve that SP to make it worth while to exercise those options, at this point it's just a matter of waiting for the SP to stop dropping before taking a decent position and waiting long.
