T-Mobile and Sprint are officially merging as of today and tomorrow, changing the stock name from S to TMUS1 as of 4/2/20
According to the paper that OCC published (download here),
Until the cash in lieu amount is determined, the underlying price for TMUS1 will be determined as follows:
TMUS1 = 0.10256 (TMUS)
What would happen if I had a put contract, would I be making some absurd amount of money because the price dropped from ~$8 per share to $0.10?