UPDATE: OPKO scheduled to resume trading Friday at 1:15 p.m. EDT.
Opko Health Inc.’s stock closed down 18% on September 7, 2018. Importantly, Nasdaq halted trading in Opko Health, NASDAQ symbol OPK ($OPK) on September 7, 2018 at 14:34:38 Eastern Time at a last sale price of $4.5835. Meanwhile, nasdaq suspended trading since that time. While this has transpired, hurricane florence bears down on the United States.
Equity Options in OPK
Importantly, September 14, 2018 options are set to expire. The Options Clearing Corporation handles options clearing. The OCC issued a notice #43635 regarding equity option expiration on September 11, 2018. Furthermore, the memo indicates that so long as trading is suspended, equity options in $OPK will not automatically exercise even if they are in the money. Importantly, the holder must provide positive exercise instructions to OCC. If trading resumes, then the options will exercise, as normal.
In the money Options
There are several in the money options relating to OPK. The Sept 14 $5.00 put says it appreciated by 650%. See OPK180914P00005000 and OPK180914P00005500.
The Message from OCC
Thank you for using our services. There are a few OCC memos which will help. Hence, the general guidelines memo when a stock halts:
Secondly, a specific reference to OPK options in memo #43635:
Likewise, please keep in mind, these memos concern Exercise by Exception procedures.
In conclusion, thanks again and I hope this helps.
Finally, make sure you monitor this situation like a hawk to ensure yo do not miss an opportunity.