I see his point, but he doesn't seem to see ours. Buying three...

I see his point, but he doesn't seem to see ours.

Buying three times the options at 1c (rather than the heads at 3c) is certainly no insurance move (when the strike price is 5.4c). It's a risk, because they might never be in the money.

I have lost 100% on options at times. If I held shares then instead they would still have worth.

But the options (using the earlier prices) are now 14x as opposed to the heads which are 6x approx. But three times as many options can be bought for the same money too, so that's a huge value difference.