What is dddo?, page-13

Since DDDO oppies are "at the money" now with a 0.7c exercise price, for every pip (0.1c) that the heads goes up, the DDDO oppies will also go up by 0.1c

Eg.
DDD at 0.7c/DDDO oppies bought at 0.4c
DDD 0.8c/DDDO oppies 0.5c
DDD 0.9c/DDDO oppies 0.6c
DDD 1c/DDDO oppies 0.7c
DDD 1.1c/DDDO oppies 0.8c
DDD 1.2c/DDDO oppies 0.9c

Therefore if you buy DDDO oppies when the heads are at 1.2c, you will be paying 0.9c for those oppies roughly.

Don't forget those oppies have over a 2.5years till they expire in Dec 2019.