With Roku to potentially be acquired by Fox I was trying to figure out how the options contracts, specifically LEAPS would be effected. I ran it by AI and got an answer with a formula, but was hoping to get a more understandable answer. Specifically, if you had bought a LEAPS before the announcement or what trying to sell one now would look like after it closes. Based on the formula from AI, the "in the money" is based on what Fox is valued at when the deal closes, so this is theoretical for now I suppose but also just trying to understand adjusted options as I have seen them before, but always avoided them for lack of knowledge.