Maybe they will buy you out or something? Say you won't exercise the option for a fee? After all, they would probably like the shares to stay under their tent.

Oh, I didn't sell the BP stock I'm still holding it. My overall philosophy seems very different from yours. I like to make long-term trades, with a few short-term wildcards here and there.

I really don't think trading on the volatility of penny stocks is a great long-term strategy. It's basically a casino over the course of time because the volatility you're trading on isn't based on much more than the volume itself. IE you're trading on the volatility in a very small pool...with others who are likely also trading on the volatility.