Think about what you are saying here for a moment:
- The stock is in an indefinite trading halt (presumably due to bad news).
- I own a put option.
The ONLY way someone with a long stock position can sell the stock (considering the stock is in a trading halt) is to BUY my put option and exercise it.
Far from being worthless, my put is worth a fortune, anyone that wants out can only buy my put to do so.
This is my best case scenario actually.
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