### Comment:
In your email they state you need the underlying stock or buying power. I he'd need enough collateral to buy the stock at last price ($27?) Which means he'd have to put a huge chunk of money in there to realize it. And depending on how they execute when trading does open. He might lose money.

### REPLY:
Yeah he’d need $540,000 to buy all the shares for his puts $27 a share.

### END.