DryShips Inc. DRYS

have a look at DRYS call prices

[FLoww]

I looked at DRYS and found that the price for a call at a strike price of 1$ is 0.02.

I found them unusually low so I bought 200 contracts but it seems so nice that I have a feeling something is wrong.

Otherwise, I'm in the money like crazy.

Can someone confirm ?

Mar 17 | Near Term | All

 

Option Chain for DryShips Inc. (DRYS)

Calls	Last	Chg	Bid	Ask	Vol	Open Int	Root	Strike	Puts	Last	Chg	Bid	Ask	Vol	Open Int
Mar 17, 2017	0.02	0.01		0.02	625	2049	DRYS2	1	Mar 17, 2017	0.95	-0.01	0.75	0.98	28	238
Mar 17, 2017	0.02			0.02	110	3656	DRYS2	2	Mar 17, 2017	1.90		1.80	2.05	0	0

Read more: https://www.nasdaq.com/symbol/drys/option-chain#ixzz4XMcGgMw1

[goldylocks1]

My platform shows that its an adjusted strike price. Doesn't give much detail but my best guess is that it's the strike price before the stock split. Just a guess though. Good luck!

[MayorRobFord]

The $1 call chart shows it was trading since last august. So has to be presplit. When I click on Near the money, nothing appears, when it should show for 4,5,6 strike. There is no way  a $1 post RS call can be under $4 currently.

[FLoww]

Ok if the strike price has to be adjusted, how was I supposed to know that ? OCC or Nasdaq should be responsible for not advising? Maybe I have a case.

[GregDavid]

It looks like an adujusted option meaning that things can change at anytime such as strike price, expiry,  and contract size. Usuualy happens after a major event such as a Split. I really ont know how they come up with the final change. I hope its a home run!

[MayorRobFord]

That  unadjusted $1 call needs $8 to be in the money. but above $7.5, it can go up exponentially. Need some serious short covering within the next month, but still possible.

[YupnDump]

glog..glog....glog

[YupnDump]

glog....glog...glog...GLOGggggg...RIP