Options are excempt since theyare just giving "the right" but not the obligation. Large institutions will use these to own a 13d position without bringing attention to yourself hence driving there price up while your buying. icahn did this with HLF
Thank you both for the answers. It wasn't clear to me because with Icahn and HLF, it seemed part of his announced stake was the OTC options he had.
No 13d requirement for an options position