Jul 1st 2009 1:04PM Liz,
Still confused..........Perhaps a little more explanation is in order. Are you saying that that if the pre-split price on put options had a strike price of $1.00, it stays there, and that only the number of shares changes. That means the guy with $1.00 strike price has a sure thing unless the stock drops back down below a dollar?
If the strike price is not adjusted then before if the stock was 99 cents he gets nothing, but now if its $19.80 he does, since it is above the dollar mark?