hey guys, so, today was actually the first time I went through a dividend while holding options. I trade a chinese etf which pays a dividend once per year (european style), and today was the ex-dividend date. So far my knowledge of dividends had been purely theoretical (I started trading options last february), and it was my understanding that the dividend should have been already priced in, with the puts becoming increasingly more expensive, and after the dividend ATM puts and calls should have gone back in sync. Today instead I found out that something different had happened: all the options I was holding didn't move a penny, they simply got their strike lowered by the dividend amount. So, for instance, I was holding a call with strike 2.90, now that strike has become 2.86, option value and related P&L totally unchanged. Then I saw that all the options on the exchange got duplicated: there is now a set of post-dividend options all trading at funny decimal strikes, and a fresh new set of options with same maturities but trading at the original pre-dividend round strikes. So my question is... Is this normal or is it yet another example of "options with chinese characteristics"??? Under these circumstances, I think that should adjust my models inputting dividend=0 on every formula where dividends appear, do you agree with me?