Guy, With delisting, the puts should be golden. You still have a contract and can exercise them. They may not trade if the stock is delisted, but exercise is always an option. However, I would say you have probably milked this one pretty dry and it's time to exit.
On an increase in equity, it depends upon the paramaters. A stock split always means an option split. A stock dividend doesn't. Issuing equity to cover debt, which usually precedes bankruptcy (except in the case of convertibles), can go either way. But, it is certainly good for put holders either way and, once again, when this happens, you have pretty much hit your homerun with the stock. |
