Thanks to the PM blogger telling me the options were for .94 and were issued about 5 years ago.  So I guess one could look at Peter Wood letting these options expire several ways.  To much underwater.  But also he would know all the insider stuff going on and one would think if something really big was about to hit he would have taken the options.  Also he would have to shell out 94k which he may or may not have.  Interesting times for sure.