Sold a covered call for ACTI 95 call for a premium of some 200 USD with expiry in Jan 24. What happens when the Microsoft deal goes though? Microsoft is valuing each stock at $95 and it is supposed to be done by the expiry.
Does that mean the moment deal is approved by regulators the price of the call will plummet allowing me to buy it back? Or will it increase and then somehow in January 24 I’m going to have to sell someone a non existent stock at $95 per stock value.
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