To be specific, I have 20 NS call options for PRCP call $7.5 for jan 15th 2021. There was a merger-Cash only. What will happen to my options? TD Ameritrade emailed me this:
“ We are writing to inform you of a change to the deliverable requirement on options positions you currently hold in your account ending in ****. This change is the result of a Merger - Cash Only.
Your PERCEPTRON INC option contract(s) have been adjusted to reflect the following deliverable terms:
All equity stock options that convert to 100% cash as a result of a corporate action will be subject to early expiration”
Not sure what to understand. Will I get $700 per contract as a settlement? Or my contracts will expire worthless since my call is at $7.5 and the buyout was at $7?