This is a very basic explanation:
The options are trading at 22c with an exercise price of $1. The heads are trading at $1.04 right now.
Therefore the premium you are paying to buy options is c. 18 cents. The heads are trading inline with NTA as of the announcement today.
Not sure who would buy the options at that premium to be honest, quite overpriced for me.
The upside is you can get more exposure to the company through buying the cheaper options, approx 5:1.
I only tend to buy options if I want exposure to the company without tying up too much cash, and if they are trading at a discount (i.e option price + exercise price < head stock price)
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