How to price: pump.fun ICO

OK quick thread on how I would price the @pumpdotfun ICO using options theory, and why there might be a trading opportunity! Skimming the market rules and doing a Google search, this seems to be a simple European binary call option with strikes at $4B, $5B, $8B, $10B. It expires in 49 hours and the current underlying price can be obtained from the Hyperliquid pre-market @ $5.353B FDV. If we use…