Samuel, I'm only a month or two ahead of you in terms of options experience, but this is what I, for one, can tell you:
cboe.pcquote.com is marvelous for delayed options quotes. Be sure to click on the "All options for this underlying" link at the bottom of the page for LEAPS and longer-term options.
You're very close to a 100% profit on your April 35 calls. A certain person not licensed to render brokerage services in California gave me great advice a while back to sell half your options holdings when you hit 100% so that you can safely let the rest run up as high as you can and know that at the very minimum you're now playing with the house's money, not your own.
The same advice might not apply, though, with your September calls. Almost all their value right now is time premium, not intrinsic value, which (to me, perhaps illogically) means that you have much more of a cushion to see how high they'll go. If you think $60 by the end of the summer, then they'll be worth $2,500/contract ($60-$35 = $25 intrinsic value, no time value by then). But until then, you can handle several corrections to the low $30s because the September options will hold their time value for a few months. Thus, you might want to let them run way past a 100% profit.
Finally, buy short-term, out-of-the-money options with money you never want to see again. |
