Think your maths is off
The options have a 1c strike, therefore if the heads run to 3c then the options will be worth 2c
From current prices, that would be a 6 fold gain on the heads from 0.5c and a 10 fold gain on the options from 0.2c
The options are far better leverage in the event they strike and do a SIR style run. Any sniff of sulphides and the options will be 0.4-0.6c
Nickel to rebound, page-50
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