I remember you mentioned you were out when the PPS was still around $4.... What are you so upset about? I should be upset. I'm losing money in tens of thousands today.
Again, every call option (and W is exactly that, a call option) has intrinsic value and time value. Intrinsic value here is, you guessed it, a big fat zero. But the time value is not zero. And it will not be zero for another 3 yrs.
I'm willing to take a bet against market on this one.
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