AVZO Current price, page-49

I am long on AVZ, but first time buyer of option. Yesterday, I wanted to buy some heads but ended up buying 2x option @.023 when heads were @0.053.

Can you please guide me if my below understanding is correct.

As long as heads are above strike price (0.03) I can still convert my option with some value left on it. Only if heads goes below 3c options are worthless. If option’s strike price + option’s present value = head there is no potiential risk on down movement until the head’s price reaches the strike price which in this case is 0.03c.