If you are pretty sure of the direction, deep in-the-money options with high Deltas can be very profitable.
The most important thing I've learned is to get out if fast if the trade turns badly against you. Then, if you are still sure of the direction, you can rebuy at a lower price or for a longer duration, or move on to something else.
If you find yourself hoping for it to reverse direction, you probably missed your exit.
ivolatility.com has a good options calculator. Good luck to you!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.