1) Call and Put have a "strike" price in the title
Star Trek Beyond H$55 Call
Call = cash out how much ABOVE $55 the movie makes in opening weekend.
If the movie makes $60 mill opening weekend then the Call would cash out at $5 ($60 - $55 strike price)
If the movie does not do above $55, then the Call cashes out at $0
Put = cash out how much BELOW $55 the movie makes in opening weekend.
If the movie makes $50 mill opening weekend then the Put would cash out at $5 ($55 strike price - $50)
If the movie makes more than $55, then the Put cashes out at $0
Test:
Call is $15 strike price and the movie makes $25 mill
Answer:
Call cashes out at $10 ($25 - $15 strike)
Test 2:
Put is $15 strike price and the movie makes $12
Answer 2
Put cashes out at $3 ($15 strike - $12)
2) TAG = Average of last 5 movies
(Movie 1 + Movie 2 + Movie 3 + Movie 4 + Movie 5) divide by 5 = TAG
if starbond only has 4 movies
(Movie 1 + Movie 2 + Movie 3 + Movie 4 ) divide by 4 = TAG
if starbond has 3 or less movies
(Movie 1 + Movie 2 + Movie 3) divide by 3 = TAG
(Movie 1 + Movie 2) divide by 3 = TAG
No adjust for only 1 movie in TAG
Christina Hendricks (CHEND):
(Movie 1 + Movie 2 + Movie 3 + Movie 4 + Movie 5) divide by 5 = TAG
(Ginger 1.00 + God's Pocket 0.104 + Lost River 0.043 + Dark Places 0.195 + Neon Demon 1.28) divide by 5 = .52