I think the rules are now pretty strict on when you can by stocks options. In other words, you can't buy a $100 stock for $1.
My wife's company offers stock options. They buy the stock options twice a year on a predetermined day (or maybe they have a 1 week window).
What ever the stock prices are on those 2 days, is what everyone in the stock option plan pays.
At least that's how it works for her company.