Stock splits seem to be something that for some reason reasonably smart engineers view as some type of financial scam. A split is simply a way of re-arranging the equity - a split in itself neither creates, nor destroys value.
I've tried over the years to come up with a decent analogy and this is the best I can do. Imagine your options are cartons of eggs, and you have 5 cartons. A carton of eggs is worth $2. You have $10 worth of eggs. However the people that decide how eggs are sold determine that eggs should be sold in bundles of 6 for $1 each. You cut the cartons in half. You now have 10 cartons of eggs, still worth $10.
This was not in done in secret in some kind of way to scam you. Unless there are different stock classes, this will impact every investor. You should probably contact the company holding the options, Merrill, Fidelity, etc, and confirm that it will be updated.
I've tried over the years to come up with a decent analogy and this is the best I can do. Imagine your options are cartons of eggs, and you have 5 cartons. A carton of eggs is worth $2. You have $10 worth of eggs. However the people that decide how eggs are sold determine that eggs should be sold in bundles of 6 for $1 each. You cut the cartons in half. You now have 10 cartons of eggs, still worth $10.
This was not in done in secret in some kind of way to scam you. Unless there are different stock classes, this will impact every investor. You should probably contact the company holding the options, Merrill, Fidelity, etc, and confirm that it will be updated.