Ann: Brisbane Resources Lunch Presentation, page-49

Afaik without much a secondary market for a given option, their value moreso lies in their conversion value once in the money, and the effect on the underlying share price large is largely nominal, even negligible. Sometimes options matter, but this is the extreme case of a sponge trader taking in every tea leaf of information around them. A real options and share trader which few are.

I assume these are company generated options. Its all too complicated imo. I've only ever traded a strategy called Cash Secured Puts, on Westpac shares, on the exchange level. It was a good income to the degree I was patient to run it for 6mo.