Why take a chance with the Jan 2015 5's; bite the bullet and buy the warrants that expire sometime in Feb, 2016, or at least compare the price of each when the 2015 5's actually are offered. For each warrant, you have the right to buy .6 of a share, at a share price of $2.40, so, for 1.67 warrants, you can buy one share for $2.40. One good thing about the warrant compared to the $5 call option is that you get the benefit any price over $2.40 - so if the stock goes to $4.99 as of Jan 2014 expiry, and you've held the $5 call option till then, you have nothing. The liquidity isn't the best right now on the warrants, but it wasn't bad a few months ago, and I believe it will be fine if and when this stock ever gets going above $3 or so.

Disclosure - I own the warrants (and actually have sold a few Jan 2014 $5 calls into them), and have not decided whether or not to sell any of those warrants into the firestorm of buying I'm attempting to create by this post!! LOL!