No I think you have the right track. It must be stock options or Private placements that Rocco is talking about. Puts and calls are an entirely different kettle of fish. Dont know if you can buy or sell puts and calls on QEC. Anyway the kinda options that Rocco is talking about are either PP's such as the millions that were sold at $4 plus that put money in the till for QEC. There is usually a hold of four months on those kinda options and once the four months are up you hold the shares and can do what you want with them. I would think that anyone who paid that much for them would not be selling unless they were in dire financial straits.