Bull you dont seem to understand options...
These Options have an exercise price of 4c.
Now options because of the amount of time they have before they expire/the leverage they have, they usually sell with a premium or "time premium".
Basically it lets the seller get the "premium" whilst the buyer is getting the additional leverage.
So if SP is around 5c : 5c - 4c = 1c + timepremium (~0.5)= ~1.5c option price
if SP is 10c : 10 - 4 = 6c + timepremium (~0.5) = ~6.5c option price
As options get closer to expiry generally less time premium is given.
Hope this helps.
TV2 Price at posting:
3.9¢ Sentiment: None Disclosure: Held