Yep, you are correct and I am very familiar with options….so I know I’m playing with poison. Usually I sell covered calls or buy calls but typically only with liquid stuff. Normally I would never buy such short duration calls but I did so because of the extraordinary unusual situation facing Vtsi. Between now and Aug 19th end of day VirTra will have two more earnings reports and a conf call. That is only 11 trading days away and Vtsi is hovering near the strike. I am only risking $1050 at this point which is why Inequate it to gambling. I made the bet because if Q1 on Aug11th is either a $10mil or 20cent quarter then the stock will be $6.5 immediately in my view and my $1050 is worth $4500. If that happens I close out the calls. If Q1 on Aug 11th sucks then I keep the calls and pray for a Q2 miracle on Aug 19th. For me it is worth the risk and provides me with $1050 of amusement. Actually less since it is in a taxable account and I could use some losses.
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