aberfan. Two things. Firstly you are right...countless ammounts...

aberfan.
Two things.
Firstly you are right...countless ammounts of options have been bought by traders over the last year, many taking large positions, both because of the leverage and in the hope/belief that they were going to be well in the money and they could be onsold to those who were likely to excersise them.
Buying a million options at 2c, costing you $20k is an easy proposition for most..But paying an extra $100k is a different ball game .
As far as bieng silly. Why?. At the end of the day it doesnt matter whether you paid 13c or .01c for them, they are as of todays closing price of the heads worthless. You have to kiss goodbye to whatever the outlay was, because you can buy the heads for 9.7c. Granted if you wanted to excersise millions of them, you may not get that many at under 10c, but i doubt many punters on the thread are in that boat.