A call option grants the holder the right to purchase shares of stock at a pre-determined price before it expires.
When a company decides to buy another company, the target company usually sees its stock price jump.
If a company is acquired at a higher price than the call's strike price, the holder can profit from the difference between the strike and the takeover price.
If the strike price of the call is higher than the market price or takeover price ever is, the option will expire worthless.
Employees with vested stock options of the target company will typically be compensated by the acquirer.
So, if the takeover price is above 3c then there is value, If under 3c then clearly they are of zero value. IMO.
OSL Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
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