It will only take the purchase of 420,000 shares (~$180k) to...

It will only take the purchase of 420,000 shares (~$180k) to drive the share price up to 50 cents. CLR has little to loose, it is not like they are paying cash to have a look. If Chris wants to spend $180k to drive the SP to 50c to get the option, CLR won't mind. The 10 million share dilution will not hurt if the SP holds around 50c. Any SP pricing over 50c will need to be on the back of the acquisition value or buy out discussions.

Anyway, it probably makes 49.5 cents the sell target if your short. Which makes anything purchased below ~40 cents a +10% margin play.