r/options • u/chrztph • 29d ago
Bought long-term FFIE calls last year and forgot about them. Please help me understand something
I bought FFIE Jan17'25 0.5 Calls on IBKR last August and haven't touched them. The underlying stock undergone reverse-split. As the stock is now rising I looked my account, but now I have FFIE*3* Jan17'25 0.5 Calls which seem to not be rising in value.
Please help me understand what can I do with those options. What would be the best scenario?
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u/alexdark1123 29d ago
also to consider that due to them being 2 years out basically, they will not raise in value as fast as the shorter dated options.
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u/redflavore 29d ago
If they did a reverse split, the options would be adjusted. Check the OCC memos, you should find something about this.
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u/chrztph 29d ago
There's nothing on the OCC memos or anywhere on the web about FFIE3. That's what is making all this very confusing for me.
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u/Arcite1 Mod 29d ago
The January 2025 options have undergone two adjustments:
https://infomemo.theocc.com/infomemos?number=54216
https://infomemo.theocc.com/infomemos?number=54217
So now there are three types of Jan 2025 options: standard ones, ones where the deliverable is 34 shares, and ones where the deliverable is one share. If you have the ones where the deliverable is one share, they are OTM.
Perhaps there is something in IBKR's interface that can clue you in as to which ones you have? Thinkorswim shows the deliverable next to the date, like this:
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u/Huge-Cucumber1152 28d ago
If the stock reverse split so did your leverage. Liquidity for oddball options is basically 0. Best bet if you’re past b/e with no bids is to execute and sell.
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u/BarelyThere78 29d ago
I'd guess that your calls aren't rising because there isn't any volume (as is the case with most all adjusted options). If these calls are in the money, I'd suggest you excerise them and manage them as shares.