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Stock options (Tables)

12 Months Ended

Oct. 31, 2019

Stock options

Computation of Weighted Average Fair Value of Employee Stock Options using Black-Scholes Option Pricing Model Assumptions

The fair value of each option granted in 2019 and 2018 was estimated on the grant date using the Black-Scholes option pricing model with the following assumptions:

		2019			2018
Weighted average volatility			55.42	%		46.83	%
Expected dividends			0.98	%		3.28	%
Expected term (in years)			5.9			4.5
Risk-free interest rate			2.86	%		1.87	%
Weighted average fair value of options granted during the year		$	3.98		$	0.82
Weighted average fair value of options vested during the year		$	6.03		$	2.64

Summary of Status of Options Granted under Stock Option Plans and Changes in Options Outstanding

Additional information regarding all of the Company’s outstanding stock options at October 31, 2019 and 2018 and changes in outstanding stock options in 2019 and 2018 follows:

		2019						2018
		Shares or			Weighted			Shares or			Weighted
		Price Per			Average			Price Per			Average
		Share			Exercise Price			Share			Exercise Price
Outstanding at beginning of year			942,366		$	3.09			1,159,771		$	3.19
Options granted			124,097		$	8.16			269,635		$	2.44
Options exercised			(171,066)		$	3.86			(418,955)		$	2.66
Options canceled or expired			(5,250)		$	6.82			(68,085)		$	4.98
Options outstanding at end of year			890,147		$	3.62			942,366		$	3.09
Options exercisable at end of year			599,981		$	3.25			675,033		$	3.01
Options vested and expected to vest at end of year			889,088		$	3.63			940,144		$	3.09
Option price range at end of year			$1.90 - $8.69			—			$1.90 - $5.88
Aggregate intrinsic value of options exercised during year		$	317,827			—		$	1,207,148

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- Definition

Disclosure - Computation of Weighted Average Fair Value of Employee Stock Options using Black-Scholes Option Pricing Model Assumptions [Abstract]

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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