General discussion thread, page-4125

You can exercise the option at any time prior to expiry.
If nearing that time they're out the money you'd need to compare the loss you might take on allowing them to expire vs paying the exercise price + your initial purchase vs the market price - how long are you holding etc etc.

I think they represent spectacular value right now if you believe the company will be around the 20-30c+ mark through next year.
I'm holding over a million and feel confident it will be a multi-bagger within a year. Your mileage may vary - DYOR.