APHA converts to 0.82 shares of TLRY in Q2. APHA closed at $26.32. TLRY closed at $63.91. $60 puts on TLRY cost $800. $27 calls on APHA cost $283. To buy both combined is $1083. That means to break even, you'd either need to see a $11 price increase in APHA, or an $11 price decrease in TLRY. Now considering that there is a merger happening in Q2 at that ratio, isn't one of those things two payout scenarios guaranteed to happen? Someone please tell me how I'm retarded and why I shouldn't put 100% of my portfolio into this play.
Edit: I knew I was retarded. Those would be for options this week.