what happens to options in a buyout
Congrats on a sick trade. If the buyout happens before the options expiration, you can exercise your options for stock, purchase the stock at $28.00, and sell the shares for $40.00 and make $12.00 per share (less the price of the options). Realistically, the value of the call option will go up to $12.00+ and you can just sell the option.