Thanks for the detailed reply!
My reasoning was also for the increased leverage. Seems like there's huge opportunity for arbitrage if you do enough due diligence. In theory your basically controlling 2 shares for the price of 1 (or just over) effectively doubling your leverage. for example,
You purchase an option for 0.022c (is this 100 shares? ) and the share price hits 10c in 12 months time, you convert your options to shares at 10c and your profit would stand at 100x 6.3c (the difference between your .022c purchase and 1.5c exercise price) Is this correct?
Reading through previous posts of the likes of ADNOB these options were incredibly profitable.
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