Put Warrant conversion ratios, page-2

A NCP put with an exercise at $12.50 is in the money as of Monday when it opened at $12.50 and closed at $12.32.

Any price below $12.50 is in the money for a put if $12.50 is the exercise price.

Any price above $12.50 is in the money for a call if
$12.50 is the exercise price.

NCP has long term support at $12,so if it takes a bounce Wednesday as predicted,you`ve missed the boat for puts.

Hope this helps.

Cheers