options, page-2

options are exerciseable at 5 cents and cost 0.5 cents

so for the options to be in play, the share price must be 5.5 cents, at least, otherwise it is cheaper to buy on market

however, if you hold a large position and the share price is close to the exercise price (say 4.5 cents) then you probably need to exercise them because to buying millions of shares on market will probably force the price up over 5.5 cents