Not Sure Shooter!
I would think that as long as the stock continues to trade that the Options would still be available to be traded. I am showing that the WCOM Options are still available to trade here. I think that the only thing that might affect the Options is if the stock was delisted or halted and could not be traded. I will have to call my broker on that to be sure though. Just talked to my broker and they are saying that even though a stock is halted that the Options can still be traded. If the stock has been delisted then the Options might only have the ability to be exercised. In other words, if you had a Put or a Call then you could exercise the contracts to close them out. As in WCOMs case that would mean that if you had a $2.50 Put then you could exercise the Option and sell the stock for $2.50. I am still not sure what they would use for the exercise price though if the stock was halted. I would think that if WCOM is at 20 cents again tomorrow that the $2.50 WCOM Puts could be sold for $2.30 or exercised to lock in $2.30 on them.
Does that answer the question? I would suggest a call to your broker to see if they have a different explaination. I only talked to one representative about the situation.
Good Luck Shooter! Sincerely, Bob :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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