"The company doesn't yet have a meaningful valuation so you can exercise for next to nothing." The missing bit here is a definition of "next to nothing". What

"The company doesn't yet have a meaningful valuation so you can exercise for next to nothing." The missing bit here is a definition of "next to nothing". What's the normal scenario here? How much money are we talking about? Is "next to nothing" still in the tens of thousands, or could it actually be a few hundred bucks? The principle of diversifying investments, etc. is good advice when you're talking about your primary investments, but irrelevant here if it's really "next to nothing" that's under discussion.