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Friday, January 15, 2016 2:35:18 PM
As an option is granted (quarterly in this case) the grantee has 3 options:
1) Buy the stock at the strike price & hold it
2) Cash in the option. That is, buy the stock at the strike price & immediately sell it back to the company at market price, pocketing the profit
3) Let the option lapse (ie don't buy it & lose the option)
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