in theory you can exercise the options - but theres an easier...

in theory you can exercise the options - but theres an easier way to realise the value


eg) you buy a call option now for 3 cents with an exercise price of POK 20c in 4 months time

POK volatility and the 4 months (anything can happen) are priced into the option

in 4 months time POK heads are at 30 cents
in a rational market, the option price will be 10 cents (intrinsic value).
you sell the option at 10 cents and buy the heads at 30cents, its as if you had just bought the heads at 20 cents + option cost of 3 cents = 23cents (same scenario if you just exercise the option to buy POK at 20 cents)