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e.g. if a month after emergence GGP - $16HHC - $6an option with a strike price of $20 would be $1.4 in the money$16 + 0.9*$6 - $20 = $1.4
correctionif a month after emergenceGGP - $16HHC - $60an option with a strike price of $20 would be $1.4 in the money$16 + 0.09*$60 - $20 = $1.4