option conversion, page-98

Hey mate
I’m the same as you, I’m avg at 3.9 for options
I have no more money to spend and I’ve got 4 times the amount of options as I do shares
FYI I’d like to avg down on options
My question/advice and your opinion or others is this
The price of shares get to 13 cents
Do you convert? you are loosing money but you are only loosing 1 cent not 4.
Is it too risky as in my case I need to borrow money? as who knows what will happen to price in the days it takes to convert?
Don’t forget you get new options at 33% of what ever you convert! With a strike price of 10 cents so you can convert them aswell for more profit or in our case a lesser loss.
All opinions answers appreciated.