As a very very happy holder of CELL October 35 calls, I can verify that on the morning of the 16th they became October 23.38 calls with a multiplier of 150 on IB. Sorry you were short.
Ratio Splits: 4:3, 3:2, 5:4 etc⦠Divide the strike price by the ratio and multiply the number of shares represented by the ratio. The optionâs âaggregate exercise valueâ always remains the same. âAggregate exercise valueâ = volume * strike * deiverable or âAggregate exercise valueâ = total dollar amount paid or received if exercised Ex Stock = $60 announces a 2:1 split 60 level strike option delivering 100 shares becomes⦠1 x 60 x 100 = 6000 becomes... (2) 30 level strike options delivering 100 shares 2 x 30 x 100 = 6000 Ex. Stock = $60 announces a 3:2 split 60 level strike option delivering 100 shares becomes⦠1 x 60 x 100 = 6000 becomes.... 40 level strike option delivering 150 shares 1 x 40 x 150 = 6000 Rationale: cannot have a fraction of an option contract (1 ½ contracts) so must use a special deliverable. Reverse Split Ex. Stock = $60 announces 1:4 reverse split 60 level strike option delivering 100 shares becomes⦠1 x 60 x 100 = 6000 becomes... 240 level strike options delivering 25 shares 1 x 240 x 25 = 6000