AVLOA, page-11

Yes,, but there are risks.

Especially when the SP approaches the exercise price or lower and the options are about to expire.

Consider (for example) if the share price falls from 3c down to 2.4c (and the exercise price is 2.5c) then your options may be lucky to have a little time value left (for people that want to take a punt on a large leverage position) ,, say .1c or similar...
Then the expiry time comes due,, the options will fall to zero, because who wants the option to buy shares at 2.5c when you can buy on market for 2.4c??

So your position becomes worthless.
On the other hand the guy who buys at that point (ie 0.1c maybe .3c depending on market forces ,,, SP = 2.4c, Exercise Price 2.5c)

The share price then moves to 3.5c...
Bingo... Share Price profit 40ish% ,,,,, Option price say 1.2 c,, maybe 5 bagger..??

One of the main issues,, unless you can afford to lose, be very careful if your options expiry is close (3-6 months), unless its way 'in the money'-- ie the SP is way above the Exercise Price),,, and/or be prepared and have the capital to convert your options to shares..

Just my opinion. I'm not a financial advisor, so always DYOR, or check with your broker or financial advisor!

(or take a small position that you can afford to lose ! )