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by deliveryboyman 693 days ago
No, they are not ITM until CRWD hits $180/sh.
1 comments
Kirby64 693 days ago
$185 puts that cost $7.30 mean they are considered ITM if CRWD drops below $184.27, assuming there's no cost to trade and the $7.30 refers to a single options contract (worth 100 shares). There is likely some (or a lot) extrensic value still remaining in the puts given the far away expiry date. The extrensic value is what makes them valuable.
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deliveryboyman 693 days ago
Yes that was a typo. I meant 185.

Regardless, all of this is just intellectual play considering the Reddit poster has no desire to exercise their options.

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