[nicholas73]

I'll leaving the price for others, but it seems to me the more important number at this stage is the percentage of ownership you'd get if exercised.

I mean a startup's purpose is to go from 1 to 10 or even 100, or go bust. So it's not as material whether the options are 1 or 1.25 strike if it does work out. In fact arguably you'd want more 1.25 options rather than less 1 options.

Of course that's all things equal, and the board may have screwed you on the total number of shares too.