You can also sell your options just like normal shares, so if...

You can also sell your options just like normal shares, so if you believe that the actual share price isn't going to reach 0.02 by March 2017, then you can sell the actual options themselves to gain some of your money back, or more preferably, for a smaller profit. I've made some good short term returns by buying options and selling them at a higher price, as the larger volume of shares gives you a reasonable profit even if the price only goes up by a tiny amount; however, I'll be holding off on selling my options for now, as I want to see how the first drilling results affect the share price.