X0202 4 2007-04-04 0001303433 Optionable Inc OPBL.OB 0001339613 Helmig Albert 465 COLUMBUS AVE. SUITE 280 VALHALLA NY 10595 1 0 0 0 Common Stock 2007-04-04 4 X 0 50000 .20 A 50000 D Non-Statutory Stock Options (Right to Buy) .20 2007-04-04 4 X 0 50000 0 D Common Stock 50000 200000 D Reporting Person previously reported beneficially owning Non-Statutory Stock Options to purchase 50,000 shares of common stock which options vested September 24, 2004, Non-Statutory Stock Options to purchase 100,000 shares of common stock which options vested September 24, 2005 and Non-Statutory Stock Options to purchase 100,000 shares of common stock which options vested September 24, 2006, each with an exercise price of $0.20 per share. All such reported options are vested and consolidated in this report and, after this transaction, Reporting Person beneficially owns Non-Statutory Stock Options to purchase 200,000 shares of common stock currently exercisable at $.20 per share. At the discretion of the Board, the options shall terminate, even if vested, upon (1) the death of the optionee; (ii) the termination of the optionee's services to the Company; or (iii) the conviction or plea of nolo contendre by the optionee to certain crimes. /s/Albert Helmig 2007-04-06