Yes, that's correct. And you don't necessarily have to convert your options to full shares if you don't want- you're not committed to spending that $1260. You can trade options, just like normal shares if you don't want to wait til 2025, or if you don't have spare cash towards the end to convert. Or if the price doesn't get above 6.3c, you just let them expire and you only lost a $20 gamble.
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