I went to check the Delta figures on our contracts:
$115/Call = Delta .76 $125/Call = Delta .46
What this means is that for every $1 that the stock rises or falls we can expect the price of the option to rise or fall to the amount of the Delta.
It get real interesting the closer you get to expiration and you are "in the money." The highest Delta # is one (1). If AAPL closes at my target of $130 today our Delta's should be about .90 and .60 respectively.
Since AAPL say they have more news comming before the end of the month we may beed to hold overnight again unless that news is out today. And remember that the downloadable software for the iPod will be available on 3/6/08. This gives us about 2 whole weeks before expiration.
I smell a double in the works!
Have you ever seen an option worth $25 per contract?
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