Opo strike price (the money payable to the company to convert...

Opo strike price (the money payable
to the company to convert the option
into a fully paid ordinary share) is 4.2
cents.
The opo expiry date (the last day on
which payment of 4.2 cents may be
made to the company) is 29/7/15.

If opo bought on market for 0.8 cents,
and share price which closed tonight
@ 2.8 cents moves to say 98 cents
before the expiry date (35 fold);
the opo will move to (98 - 4.2) 93 cents
(ignoring market friction)
or 116 fold (93/0.8) if realised on
the ASX as an option (if there is a bid).

On the downside the maximum
fpo loss tomorrow is 2.8 cents,
whereas the maximum opo loss
is only 0.8 cents.