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Fortune Brands recently split into BEAM and FBHS. I notice that the March call options on BEAM include two kinds, one whose underlying is only BEAM, and apparently another that has both BEAM and FBHS as underlying. Is this an error or some special kind of option linked to both stocks?

120317C60 (for BEAM)
1120317C60 (for BEAM and FBHS)

BEAM is trading around 52. FBHS is trading around 17.8. How does this work if they are linked. When is it in the money? What is the obligation of the holder of BEAM to deliver FBHS shares if writing covered calls?

Here is one from the Fidelty site:
CALL BEAM INC 100 BEAM+100 FBHS MAR 17 12 $65 (100 SHS)

The premiums on the linked calls is much much higher. Why?

Best regards,

David in Thailand
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