The options will have little / no effect IMHO. As I understand...

The options will have little / no effect IMHO. As I understand it the max number of options is 15mil (1 option per $1 loaned) and they only go in-the-money over 10c. Therefore the sp needs to go up more than 2.94x before these 15mil options could have any effect or be used to cover a short. 15m options, as we saw with trading volumes in Dec, could have a slight capping effect but it would be short lived. The option strategy is not a bad way to keep funding costs down and if the sp exceeds 10c anytime soon I for one won't mind one little bit!