Not really an option because an option costs money and if you don't exercise the option you lose the money. FIMI did not purchase an option. What they did is basically inject some liquidity into EL AL now in exchange for shares and made it known that they plan to inject a further amount within a specific given time frame if certain broad conditions are met and whether those broad condition are met will be judged at their sole discretion.

It may just be that FIMI is dipping some money into EL AL now and will make a quick sale of the stock once the price per share reaches a certain level. The buzz surrounding FIMI's investment has already driven LY's shares higher. It could just be a ploy to make a quick profit. It also helps Tami Borovich because she could dump some shares on the TASE and get a higher return than she would have before the FIMI announcement. This sort of thing has been done before.

Again, I find it hard to fathom that a sophisticated venture capital firm wants to acquire a debt ridden, near bankrupt, managerially intensive asset in a low yielding industry that requires hundreds of millions of dollars in capital investment just to be able to effectively compete in the marketplace. Something else is going on here.