looking good at 9:30 am, page-9

No, there shouldnt be 20c difference, there should be and is a premium of 5-6c (i.e 14-15c diff). According to Black-Scholes, option valuations (premiums) depend on time value; (over 2 years here); strike price (20c nicely covered) and volatility (this stock can move large % in short time. The higher the volatility, the bigger the premium, the more time remaining, the bigger the premium.

I'll ignore the other B-S factor of the riskfree rate as that isnt so important.

Just thought i'd clear this up as there seems to be some confusion here.