MFGO is a call option - you have the right to buy MFG ordinary shares at $35 a piece any time in the next 5 years or so.
If you fill in the form to exercise now, it will cancel the MFGO holding for zero, you'll get a share of MFG, 1 for 1, and you'll pay $35 to Magellan for the privilege. You might wonder about the wisdom of paying $35 for a share of MFG when you can buy it for closer to $17.
If you don't fill in the form to exercise now, nothing happens. You own a security called MFGO and it trades on the market. If you want more of them, feel free to buy them. If you don't want to think about them any more, maybe consider selling them to someone else. Either way, seek some financial advice before filling in any forms or trading the security... unlike the crazy punters that are paying 2x the price because they didn't know what they were doing.
MFG Price at posting:
$16.96 Sentiment: None Disclosure: Not Held
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