Big Board Toolbox

[Market Technician]

If I think V will be $100 on or before June 20th expiration and I want to buy some options. I pull up my options chain for V. I look for $100 and I see this:

"100.00 VFX.X 0.80 0.21 0.80 0.85 915 9,809"

Now say I'm feeling really bullish, so I buy 10 contracts @.80 = $80.00 + $10 broker fee, for total of $90. (IS THIS CORRECT?)

Soon V is @ $100 so I sell my options @ $100. What did I just make? Is this how it works?

WHAT IF V is trading @ 83.00 +/- and then is trading @ $90 next week, can I execute my call options even though they are not @ $100?

ALSO, if I want to go short term, should I just by the $85 CALL???? "85.00 VFQ.X 3.50 0.40 3.50 3.60 3,979 25,808"

T H A N K Y O U for your help boca_bobby =)

http://finance.yahoo.com/q/op?s=V&m=2008-06

CALL OPTIONS Expire at close Fri, Jun 20, 2008

Strike Symbol Last Chg Bid Ask Vol Open Int
45.00 VFI.X 42.60 0.00 37.10 37.40 15 169
50.00 VFJ.X 32.12 1.28 32.10 32.40 8 137
55.00 VFK.X 26.40 0.00 27.10 27.40 1 126
57.50 VFY.X 24.50 0.00 24.60 24.90 2 259
60.00 VFL.X 22.40 0.00 22.10 22.50 30 715
62.50 VFZ.X 19.30 1.20 19.70 20.00 2 847
65.00 VFM.X 17.20 0.00 17.30 17.60 13 2,032
67.50 VFU.X 14.70 2.20 15.00 15.30 10 1,953
70.00 VFN.X 12.80 1.38 12.80 13.00 113 6,579
72.50 VFV.X 10.70 0.50 10.70 11.00 146 3,227
75.00 VFO.X 8.95 0.35 8.90 9.10 339 5,068
80.00 VFP.X 5.90 0.10 5.70 5.90 1,725 9,311
85.00 VFQ.X 3.50 0.40 3.50 3.60 3,979 25,808
90.00 VFR.X 2.10 0.45 2.10 2.15 2,669 16,890
95.00 VFS.X 1.25 0.33 1.20 1.30 3,857 11,011
100.00 VFX.X 0.80 0.21 0.80 0.85 915 9,809
105.00 VFA.X 0.55 0.05 0.45 0.55 256 5,098
110.00 VFB.X 0.35 0.10 0.30 0.35 1,853 11,756
115.00 VFC.X 0.25 0.05 0.20 0.25 18 2,309
120.00 VFD.X 0.16 0.09 0.15 0.20 733 7,327