Options
Buying options is a losers game. The seller or writer typically comes out ahead.
Buying options at about 1/3 of the share price is nothing short of madness. You buy 1/3 of the shares for the same money and you get to keep the shares and upside forever.
Does not make any sense whatsoever. Except maybe if it is one leg of a multi leg trade. Perhaps they use it like they used to use the warrants in combination with shorts.