What happens to my options after a split or reverse split?&nbsp;You're likely already familiar with stock splits and reverse stock splits. Quick refresher:&nbsp;Imaginary stock $ABC, trading at $100, will undergo a 10:1 split. &nbsp;&nbsp;The owner of ONE share at $100 (total value $100) will own TEN shares worth $10 each post split (total value of $100 remains unchanged). &nbsp;&nbsp;Imaginary stock $DEF, trading at $10, will undergo a 1:10 reverse split.&nbsp;The owner of TEN shares at $10 (total value $100) will own ONE share worth $100 post reverse split (total value of $100 remains unchanged).&nbsp;** The key takeaway is that there is no change in your stock equity after a split or reverse split. The same applies to your options positions after a split. **&nbsp;--&nbsp;Now let's take a look at how options for $ABC and $DEF will be affected:&nbsp;<h2>Regular split: &nbsp;</h2>&nbsp;Imaginary stock $ABC, trading at $100, will undergo a 10:1 split. &nbsp;&nbsp;As previously mentioned the owner of ONE share at $100 (total value $100) will own TEN shares worth $10 each post split (total value of $100 remains unchanged). &nbsp;&nbsp;The owner of ONE $ABC $100 strike call (imaginary premium of 1.00) will own TEN $10 strike calls (each valued at .10). &nbsp;&nbsp;If you recall back in November of 2023 Pelosi purchased 50 $NVDA 120c 12/20. $NVDA has undergone a 10:1 split. Her new position is 500 $NVDA 12c 12/20.&nbsp;&nbsp;<h2>Reverse split: &nbsp;</h2>&nbsp;Imaginary stock $DEF, trading at $10, will undergo a 1:10 reverse split.&nbsp;As previously mentioned the owner of TEN shares at $10 (total value $100) will own ONE share worth $100 post reverse split (total value of $100 remains unchanged).&nbsp;The owner of ONE $DEF $10 strike call (imaginary premium of .10) will own ONE $DEF $100 strike call. Unlike other options which control 100 shares this new option only controls 10 shares. This type of option is known as a non-standard option. Non-standard options will carry a '1' after the underlying symbol (example BAC1). Non-standard options cannot be opened; brokerages will only accept closing orders. Non-standard options can also carry a cash component as well.&nbsp;&nbsp;[Unusual Whales Split Feed](https://unusualwhales.com/stock-splits)&nbsp;[Unusual Whales Non-Standard Options Feed](https://unusualwhales.com/non-standard-options)<ul><li>Related Articles:<ul><li><a href="https://unusualwhales.com/information/breaking-down-an-option-contract-chart">Breaking Down An Option Contract Chart</a></li><li><a href="https://unusualwhales.com/information/how-do-i-read-an-options-contract">How do I read an Option Contract?</a></li></ul></li></ul>

How a Split Or Reverse Split Affects Options

This article offers a full explanation of what happens to your options contracts in the event of a stock split or reverse split

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