You have purchased a 10,000 annual convertible bond attached with 5,000 option on Jan 1, 2020.The option price is $2 each and allows you to sell XYZ share at 20/share on March 30. The bond can be converted into 12,000 common shares annually. Coupon rate of the bond is 10% p a.

On March 30, the spot price of the share is 17/share. Make a decision of exercising or not exercising the option on march 30.