I totally understand what some are referring to as leverage,...

I totally understand what some are referring to as leverage, however in investor circles, their concept of leverage is generally very different.

Usually, leverage with options is when an investor purchases an option (which controls a bundle of 1,000 shares)... They pay a premium (option price) to purchase the option which is the right but not the obligation to buy shares at the exercise price before expiry) in the case of a call option..

But I guess you could call it leverage in being able to control slightly more shares by purchasing IMU options (although they are generally only 4 cents cheaper in the case of IMUOB's) and they are for 1:1 option to share conversion, so the concept of leverage is very different.....Not that it doesnt make sense. It is rational however they will still need to be in a position to pay the additional 4 cents to exercise before November and if, in the unlikely scenario the share price took a plunge, they would lose the entire amount...

A very unlikely risk however I prefer to stick to heads in this case. Options trading is a different beast and I prefer option contracts that control more than 1 share, but thats just my personal opinion.