WOA Share Price, page-8

An option is an entitlement/right to acquire a share at a certain price (known as the “strike price”) before a certain date (the “expiry date”).

In the case of WOAO, the strike price is $0.30 and the expiry is 30 June 2021. Therefore if you buy the WOAO options at today’s closing price of $0.30 you would still have to pay the $0.30 strike price to “convert” each option. In effect your purchase price per share would be $0.60/share. You don’t have to convert the options though - you could also trade them. Like the underlying shares, you would only buy the options if you expect the share price to increase. However, if you do not exercise the options before the expiry date they will lapse and lose their value.

Hope that helps.

Please DYOR - you can check the option terms by checking the company’s ASX filings, specifically it’s the Appendix 3b (or 4b - can’t recall off the top of my head) that sets out details of the company’s capital structure