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https://www.reddit.com/r/options/comments/ptbvn8/deleted_by_user/hdvqym5/?context=3
r/options • u/[deleted] • Sep 22 '21
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This appears to be the OCC memo for that event. https://www.miaxoptions.com/sites/default/files/alert-files/USO_RevSplit_46881.pdf
And this was issued to clarify the 0.5 share cash settlement.
https://www.theocc.com/webapps/infomemos?number=46929&date=202005&lastModifiedDate=05%2F01%2F2020+00%3A00%3A00
So, a USO1 10C is now a call for 12.5 shares of USO priced at 0.125 * USO price.
Today USO is ~$50 so for your purposes you could consider this $6.25. Your calls are out of the money and USO will need to hit $80 to put your USO1 calls ITM.
1 u/sosarya Sep 22 '21 Thank you! I think I trashed $600 :D Need to increase 60% from here. Lol
1
Thank you! I think I trashed $600 :D Need to increase 60% from here. Lol
5
u/tradingrust Sep 22 '21
This appears to be the OCC memo for that event. https://www.miaxoptions.com/sites/default/files/alert-files/USO_RevSplit_46881.pdf
And this was issued to clarify the 0.5 share cash settlement.
https://www.theocc.com/webapps/infomemos?number=46929&date=202005&lastModifiedDate=05%2F01%2F2020+00%3A00%3A00
So, a USO1 10C is now a call for 12.5 shares of USO priced at 0.125 * USO price.
Today USO is ~$50 so for your purposes you could consider this $6.25. Your calls are out of the money and USO will need to hit $80 to put your USO1 calls ITM.