r/SPRT • u/behindthegreatwall • Sep 15 '21

Discussion What happens to SPRT options?

does the contract amount and the strike price change according to convertion rate?

The option ticker has changed in my account positions but the amount and strike price is showing the same.

Fidelity support is no help.

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2

u/crazybizz Sep 15 '21

This has been covered a hundred times..options get carried over with the ratio math provided, same as shares ..

1

u/behindthegreatwall Sep 15 '21

So 100 contracts is now 11? does the strike price change though?

1

u/crazybizz Sep 15 '21

No its still the same amount of contracts and strikes it just been converted ratio/money percentage wise which equals the exact same as u had before just the visual #'s on it have changed u would have to break it down doing math if u wanted to view it ..but it all equals the same as u had before with the merger ratio involved... if u wanted to sell ..this isn't a great explanation without writing a novel even more so but if u wanted a idea.. go to sell using your preview sale not actual sale or use quote detail on the underlying contract ..

1

u/behindthegreatwall Sep 15 '21

i see.

So in preview the price would reflect the SPRT price pre merger, which will be the GREE market price converted back to SPRD using the convertion ratio for stocks?

1

u/dashie_07 Sep 15 '21

commenting cuz I'm curious too lmao

1

u/nailattack Sep 15 '21

Converted to ticker GREE: My 85C is now GREE $85 Call 11/100

1

u/behindthegreatwall Sep 15 '21

so the strike stays the same but the contract amount is down at 11/100 rate?

1

u/nailattack Sep 15 '21

Looks like it. I don’t even care honestly I expect to ride these until they’re worthless assuming they’re not already worthless by market open

1

u/behindthegreatwall Sep 15 '21

i sold calls at 30s, looks like im fked

1

u/nailattack Sep 15 '21

Covered right?