Scotty,
I have some royo shares too. If you exercise them in May 2010 for 10 cents each, you get another free piggy back 1:1 option @ 12 cents later. So it is best to exercise ROYO in may and not sooner or later as you won't get the free piggy back option. See the thread on ROY.
Sorry about this ROY thread.
Durian
options and exercising, page-7
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