BAS 0.00% 8.0¢ bass oil limited

Ann: Change of Director's Interest Notice Laura Reed, page-18

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    Is my understanding wrong here? You state shares would have to be 18c for the options to get to 2c. I buy options at 2c, immediately exercise them at 12c , sell for 18c (banking a 4c, or over 20% profit).
 
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