[bogomipz]

The OP I was responding to was clearly talking about a publicly traded company - "the stock was at $50/share" and "Took years for the stock to recover." They could sell them to anyone who wanted to buy them and clearly people did if it was going up.

To answer your question, yes there are still companies that facilitate the secondary market for pre-IPO options, Forge/Sharespost is the one that immediately comes to mind.

[dominotw]

All those markets are currently dead. Been searching high and low on all those sites for my options but all the sites went completely quite last 3 months.