"Well if you are going to assume that the free options will be exercised, then I think it's also fair to assume that they will be in the money"
You appear to be lacking in derivatives knowledge - of course the options will be exercised - by the time they get even close to the exercise date they will be "in the money" and therefore exercised because the spot price will be will in excess of the strike
EQR Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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