2015 Morning Mock - Q17

I can’t post the Q. Apologies. For those who can reference or have done it, your help will be appreciated.

I fail to understand how option 3 presents a monetization strategy given he is waiting for upside potential without a blatant exit point and how option 2 does not count as a liquidity event given that the stock options have an expiration period.

Any help will be greatly appreciated.