Check my maths please. I have a habit of making mistakes!
If VOR heads are $0.02 September then 20 times = $0.40. Options exercise price becomes $0.90 (20 x $0.045).
20 times current option price $0.002 = $0.04
Black Scholes shows fair value at $0.104 or a 2.5 times premium to current price. Black Scholes is only a guide and many times the time factor that Black Scholes allows for doesn't reflect in the actual option price however could this be a reason why there is suddenly huge buying in the options? Simply a case of being under valued?
Black Scholes calc below
VOR Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held