Ann: Radiometrics Reveal New Anomalies at Hook Lake, page-89

@Snake26, based on your previous assertions, you quite confident the heads was going to drop lower from here and suggested the share price wasn't really going to go anywhere.

If that's the case, why would you have lined up to buy the options at 0.001?

I think It's a binary outcome for you:
i) you exercise before end of year and pay the additional 0.01 to convert your options to shares, giving you a VAL cost base of 0.011 - which is above what you thought the share price was going to be before the end of the year, leaving you in the red on purpose.
ii) holding VALOB and hoping it goes up to 0.002 to make a 100% profit before expiration - if you didn't think the price of the heads was going to go up to 0.012 before end of year, what would make you think VALOB would go to 0.002?

I think this trade for you is contradictory to your analysis provided previously? What's the play here?