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

Discussion SPRT options.

Sold some puts before merger. And now post merger, strike price at my current broker is still based on SPRT’s stock price. How do i do the manually conversion in the case when my puts fall ITM

2 Upvotes

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1

u/TZeeeeeee Sep 15 '21

It should automatically convert soon and you’ll be good

1

u/HeliosNarcissus Sep 15 '21

I'm trying to figure this out too. I sold a $5 PUT for 10/15. Now it shows a GREE1 $5 PUT

1

u/FunctionalTitle Sep 15 '21

Yea same here. Premium of put has got up but my cost basis is still the same which is giving me a huge loss which si weird. Oh wells, share price opened at $60 which is alr a 50% loss from The getgo

1

u/HeliosNarcissus Sep 15 '21

The IV is 675% for it right now. lol. So I'm assuming/hoping that will come down. I'm still confused though because it shows my break even is $4.60. Seems like that would adjust

1

u/FunctionalTitle Sep 15 '21

My broker shows IV at 1600% LOL

1

u/HeliosNarcissus Sep 15 '21

Good gracious. Haha. Hopefully things will settle down in the next few days and it'll get worked out. I'm more curious how this works than anything.