If you purchase 200,000 units of SRTOA at 1.9c, you will be the holder of 200,000 units of SRTOA at 1.9c, and you can trade them freely everyday just like normal shares.
IE if you buy at .019c and price rises to 2.1c, you can sell at 2.1c.
You are able to trade them just like normal shares.
Normal shares are called 'heads' when talking in the context of 'options'
Options are just 'options'
Outside of this, there is only 3 things IMO you need to remember.
1. SRTOA have a strike price of .008c.
2. Expiry date of 31 dec 2017.
3. Options are high risk and most parts will follow a 'heads' share price, but will experience greater gains and just as greater falls. IMO if you get emotional with highs and lows of a share price or option price, option trading is not one to play in.
What does these 3 things mean.
1. Strike price of .008c per unit
If at any time between now and expiry date, you dont sell your shares and you wish to convert your options to heads(Normal shares), you will need to pay the strike price on every unit. Your broker can assist here.
2. Expiry of 31 Dec 2017
This is the date these options expiry , if you have not sold them by then, or paid your conversion (remember to leave enough time), they will evaporate and you will lose all your money invested.
In most instances useless a option is trading 'in the money', it should be traded out of or converted, or you will lose your money when it expires.
3. Options are high risk
In most instances options dont follow the rules in predictability.
Options could be up 50% in the morning on very low amount of units traded, and lost all that plus some by the close market. They are not for the faint hearted.
IMO they are only a good investment if the following occurs.
a. You get them early enough, this means buying early, waiting longer for something to happen(the market to catch up). This is Long term play and you need to be very patient, could be 6-12 months in some cases. And there needs to be some catalyst for them to wanted later, some this needs to be identified early or in the works.
b. Their stike price is very low, under 5c
c. Their expiry is a long way off 18 mths plus
d. Their are a low amount on issue
e. Liquidity is there or should be for coming (not good holding lots of options, if you cant sell them)
f. If possible mgt hold some, or have been issuing themselves some, with a date that seems in line with something else they are doing.
(20min delay)