1 Million Options bought for $12,000
if the share price was 50c, the options would be around 23c.
Selling them would get you $230,000
which is a profit of $218,000
Not sure where you are getting your figures from.
and then try this calculation on for size.
1 Million options, bought @ 14c = $140,000
1 Million options expire worthless = $0
which is a loss of $140,000
13/6/2014 Kimberlite diamond discovery, page-42
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