Most canadian brokers will not allow you to short pennies <3.00 (even against the box) Interactive Brokers is more liberal and is probably who you are talking about. But wtf are you talking about regarding options? There is nothing wrong with shorting stocks i do it all the time. Its not some big secret evil thing...... If the afs don't come out on the 15th i will short sljb for sure, if shares are available and it up ticks.....
In the end, remember who and what led you down the path.