you got to be kidding, page-33

if you by the oppies for .008 and sell them for 2c how do u lose?

You dont, but there is inherently higher risk in options. If the oppies get to 2c, what price do you think VIL will be? Today is a perfect example, VIL is up 40% but oppies only 14%. Why? Because oppies are still a long way out of the money and expiry is only 6 months away.

The real scenario could be that VIL gets to 10c by June and the oppies are worth zero. 200% gain against zero.

All I am pointing out is that VIL is a high risk, high reward play already. To invest purely in options multiplies that risk. Sometimes it pays to not be too greedy.