Im not entirely sure about that. it is not like the OB's are at...

Im not entirely sure about that. it is not like the OB's are at a ridiculous strike price ( though there would be people that have bought them needing a 2.3c + price to make them worth it). CTM was trading at 1.3 last year before the SW licence was put on hold not much has changed in the macro environment since then. pebas has proved a bit of a fizzer since then but they have offloaded/advanced some of their other projects so it is roughly even, they have lost~6 months of possible drilling, (though that in truth there probably hasnt been any delay with SW as it was planed for after wet season anyway). 

so fundamentally CTM is in basically the same position as when it was at 1.3-1.5c. Licence to drill should see a recovery back into the 1's and a few stellar holes from drilling would shoot the share price well higher than that. 

add in good Anns progressing Itty (they should start hitting the airwaves Q2) and the strike should easily be hit and in the money. Finally the Coy that did the placement of the OA's and Bs has a history of getting them in the money. Saying that i only have Heads so who knows really.