system
A chat on subreddit /r/wallstreetbets
human
just took a look. so what happens to holders who keep .50 calls thru split? I can see some who bough Jan 2020s wanting to hold..

gpt
Any options contract bought before the split are automatically adjusted. Normally your option is for 100 shares, say you have a call with a strike price of $5, if the stock undergoes a reverse split 1:5 then it would be adjusted to have a strike of $25 but only controls 20 shares as opposed to the normal 100. Normal foward splits do the same thing in reverse, the strike price is decreased but the shares controlled is increased.