I bought options for CS as kind of a moon shot . I only paid about 46 bucks for 4 options with a strike price of 1.50$. CS then got bought by UBS and now Robinhood is showing me that I now have contracts for a strike price of 1.50 for UBS which is at 23$ as of writing this. Robinhood isn't letting me do anything except sell the contract which is in their system as UBS1, so the contract is sitting at 0.01$ per share, so essentially worthless. If I could exercise the contract I'd be paying 450$ for shares worth about 9.2k.
Am I going to be allowed to exercise the contract cause it doesn't seem like it.
EDIT:
It seems that I was overlooking the purchase price of the stock. UBS paid .82 per share which is far under the 1.50 strike price I had. They're worthless pretty much for sure. No problem though, it was a moonshot and I only paid like 50 bucks for them.
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