RE: Wow.. softbank COO leaving28 Jan 2022 11:52
Call options, give the holder (I.e. SB) the right, but not the obligation to purchase an asset (I.e. Ingenuity) at the agreed (strike) price at some point in the future (as stated on the option).
If the contract is out of the money (I.e. SB could purchase Ingenuity for less than the strike price on the option) at date of maturity of the option, SB will not exercise their right to purchase Ingenuity under the terms of the contract. This is the difference between a forward/futures contract, where the holder is obliged to pay the agreed amount at date of maturity.
Instead SB can purchase Ingenuity for less, or walk away from the deal altogether.
I do worry that too much emphasis and hope has been placed on this option, some possibly giving it more financial value than it deserved.