Hyperdynamics Corp (HDYNQ)

[phxdishman]

Actually, the bet was already in place and he somewhat hedged his bet today. The options issued by the company (with a $0.90 EXERCISE PRICE) do not have a public market (he could not sell the options directly), and if the stock price was to subsequently go down significantly below .90, the options would be relatively worthless. Having exercised and converted to an outright stock holding, he can sell at a profit at any time on the open market.