It may work ok, but the code really doesn't do anything.  (Well, the snippet of
code you posted doesn't look like it's doing much.)

It's using range objects--so changing any value should be changing what you see
in the worksheet.  So you shouldn't have to plop the values back into the
worksheet.

Building on Charlie's suggestion -- and assuming that you really wanted to
manipulate the data in an array -- not in the range:

Option Explicit
Sub testme02()

   Dim CompetitorOptionsArray As Variant

   'this creates a 2 dimensional array (#rows x #columns)
   '6 rows x 1 column in your case
   CompetitorOptionsArray = Range("CompetitorShareOption").Value
   
   'manipulate the array as much as you want    
   CompetitorOptionsArray(1, 1) = "First Cell"  'row 1, column 1
   CompetitorOptionsArray(2, 1) = "Second Cell" 'row 2, column 1
   
   'then I'd use something like this to plop the array back into the worksheet
   Range("CompetitorShareOption") _
       .Resize(UBound(CompetitorOptionsArray, 1) _
                      - LBound(CompetitorOptionsArray, 1) + 1, _
               UBound(CompetitorOptionsArray, 2) _
                      - LBound(CompetitorOptionsArray, 2) + 1).Value _
           = CompetitorOptionsArray
   
End Sub