I wouldn't pay that much attention to the buyer v seller ratio....

I wouldn't pay that much attention to the buyer v seller ratio. This can change at an instant and be heavily manipulated.

I do think at some stage the oppies will start to trade at a premium to the strike price differential. You are however sacrificing liquidity, which is a big deal for those looking for size that may not have a longer term view.

Looks as though the seller that was getting busy at 3.8 / 3.9 and trying to move at 4c (but amended lower) is done.

It's always great to see the head stock and options tighten up in terms of free stock coming on market. It means that more of those buying are not looking for a quick $. What it also means is that anyone wanting a semi reasonable position needs to pay up in order to secure the volume. This will become more evident as the share price continues to move towards 10c. Then watch FOMO really start as people stop worrying about the pips and realise the price is about to move in .5c moves.