Hey guys - just trying to get my head around this.
Say you bought options on 1 Jan 00 for $0.1.
Lets assume exercise price is $0.1.
You hold them till 30 Jun 00 and then convert (at this point they are $0.5)
On Jul 1 01 you sell shares for $1.
According to what kincella says, you "disregard the profit/loss that may have resulted on the conversion date".
Does this mean that instead of the profit being $0.8, its actually $0.5 ($1 (current) - $0.5 (what you got the FPO for)???
I tried to look at the ATO - but didnt quite find what kincella was talking about
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