Subdivisions on small blocks using an option

Hi All
Just wondering who out there has done or is doing small block subdivisions eg: 12-1500m/2 using option contracts. Just trying to see what process people are using and how its working for them.. I get the idea from a larger englobo style of things but am curious about smaller lot projects. Mainly Resi but if anyone else is doing it in other sectors then by all means get in touch :)