While I appreciate the attempt to make options more understandable by calling this insurance, I think it actually confuses people about what they are buying, and we should call it what it is, namely a covered call option
More specifically, these are significantly out of the money
Significantly out of the money call options are more useful as a speculation instrument than an insurance policy, because they essentially act as leverage.
If a manufacturer wanted to protect himself against rising zydrine prices in a real world market, they would purchase a call option with a strike price near market value, and pay the premium as the insurance.
As to the question of how to price the options, options are usually priced on a per unit basis. Pricing your 1500 contract like that would imply a premium of 100 isk/unit paid, which is roughly 14% at today's prices.
I also think it is important to realize that as the seller of the options, you do not take on any risk of loss that involves zydrine going above your strike price. What you are doing by selling these options is limiting your potential upside in exchange for some additional profit if zydrine stays below your strike price.
Your risk exposure is limited to if zydrine falls.
For example, if I sold a covered call contract like this, I would pretty happily take the 100isk/unit risk premium at the current market value
. However, I don't have the credibility that you do so nobody would send me isk.
I think you actually would play a much better role (and acheive higher profits) if you continued in your role as being the marketplace. I will write one month zydrine call options with a strike price at or below current jita market prices at 100isk/unit all day, and deposit the zydrine with Block as a third party, and let him earn some percentage.