The one thing that voting for the options will give is that the company will either be in the money by years end or there will be no dilution. The risk lies solely with the option holders only. The dilution would not be as big a deal as there isn't a great deal of scrip out there currently. In fact it would probably make the share register more liquid which the bigger players like. Only being half a cent away from being in the money with plenty of action happening it would appear a pretty good risk/reward for a punt. Not planning on spending a fortune but a few k for a potential 5 bag + return seems worth it to me. I also would think the company is quietly confident or they would have put more than 6 months on them.
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