hey wobbly,
now ya getting the hang of it. 35c total in your example for the fully paid, which is more than you will pay for a share today. The reason people buy options is they don't have to shell out as much capital now, so they may be willing to pay a premium for the option. Especially if the expiry on the option is a fair way off, as in the case of MMRO.
The 20c exercise price can usually be found on the company quarterly financial statement.
Take care trading. People often say to take your time to learn as much as you can before throwing too much coin at it.
I'm off for some beauty sleep, I sure need it.
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