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I've not traded options, but from what I know, I *think*:

* for actions like dividends, you are supposed to take that into account in pricing options (you should have known)
* for actions like splits, the strike price of the option is split in kind
* for actions like mergers/spinoffs, there is no logical way to adjust the strike price that is fair to both parties

However, if the spinoff goes through JD may retain partial or controlling ownership, and that would, in theory be reflected in its price. The parent, in some cases gets cash as part of the spinoff (like Thomson Reuters announcement today), and in some cases, a cash drain is removed.

Given that your options are longer duration, I'd think your exposure was less than a shorter duration option.

jeff
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