This will increase your total QLGC positions from 10 contracts to 20 and the strike prices will be adjusted downward to:
QLGC $18.75 replacing the QLGC $37.50 strike and
QLGC $17.50 replacing the QLGC $35 strike
We will be updating you with the new symbols after close
Your position really does not change. You won twice the contracts at strike prices 1/2 of the original strike prices.
So the short side position will be a $18.75 adjustement once the new symbols are issued
In other words with the stock currently trading around $20.05, the short side strike price will become $18.75 and the long side will have a strike of $17.50. Maximum spread risk will be- 20 contracts at $1.25 risk each.
Instead of the maximum risk of $2.50 the difference between the strike prices on ten (10) contracts
You will now have a maximum risk of $1.25 the difference on the new strike prices times twenty (20) contracts. You have the same dollar situation as you had before the split.
No change in new position , no increase in risk. Everything will just be adjusted.
We will keep you updated with the adjustments with the new symbols and prices
THERE IS NO NEED TO TAKE ANY ACTION. THIS IS JUST A BRIEF EXPLANATION for subcribers that may not understnad the split and its affect on the option price.
Will keep you updated