Believe it or not options are very similar to pennies and probably much easier than that crypto crap! LOL I never could figure out those wallets and all of that stuff. Believe me I tried and could never get it.
Options are very easy as they have bid and ask just like the pennies. You buy options based on the stock price and where you expect it to go? The strike price for example let's say $7.50 Strike. If the stock gets to $7.50 anything above this you get the difference for plus premiums.
So if I would have held my 100 contract calls for $7.50 and they accepted the buyout offer of $10.50 per share? The ZYME would have gone to $10.50 per share and I would have gotten $3 Dollars for each of of my $7.50 call contracts. Each contract represents 100 shares. So having had 100 contracts it was equivalent of me holding 10,000 shares at $7.50! At $10.50 per share I would have made $30,000 on the trade! LOL I know I just confused the crap out of you!
It works the same for both puts and calls. A put means you are betting on the stock going down. A call means you are betting on the stock going up. Same concept of both sides.
Honestly, I probably made a huge mistake selling those call contracts tonight, but they were offered a buyout for $50 per share last year and they rejected it?
So, I am not sure if they will take the $10.50 offer now? Like I said this one is Risky!
If they rejected the offer this goes back to $5 in a second and those $7.50 calls become instantly worthless until expiration or until the stock price can get near $7.50 per share. Unlikely if they reject the buyout offer? Now on the positive side if another bidder steps up with a higher price this will absolutely go insane and well above $10 per share. That would be my paper bag moment to puke in! LOL
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