lang61 0 Report post Posted April 22, 2020 I have Jan22 call options at 4$ strike price for the OIL ETN. The ETN will be redeemed at April 30th. Does anyone know what happens to those options then and what best to do now? Share this post Link to post Share on other sites
Kim 7,421 Report post Posted April 22, 2020 They are likely to be worthless if OIL is below $4. Share this post Link to post Share on other sites
lang61 0 Report post Posted April 22, 2020 Thanks, why are people still buying and selling them at 5 - 10 cts per option? Share this post Link to post Share on other sites
Kim 7,421 Report post Posted April 22, 2020 Lottery ticket maybe? Share this post Link to post Share on other sites
lang61 0 Report post Posted April 22, 2020 Thanks, how is the redemption price normally calculated? Maybe there is a change it will be higher then 4$? Share this post Link to post Share on other sites
Izzard 0 Report post Posted April 22, 2020 I think options stop trading after Friday and will cash settle based on the liquidation value at an accelerated date. Those are likely out of the money and worthless but if the ETN runs up today or tomorrow... could be good to have a couple. Someone just bought about 1,300 for a dime on the Amex. Share this post Link to post Share on other sites
