btv-option mispricing

This recent listing,has fully paid shares,which were issued @10c with matching long dated options to pay 20c.Interestingly,the shares have been discounted to sub 10c,as the options have been bid to 3.5c,on volume.This relative pricing is IMHO hard to fathom.Surely if you are prepared to pay a 35% premium to a 100% higher share price conversion,then you would figure a position in the shares @9.5c,would make a lot more sense.
SEARAY