"Another scenario, I hope until expiration...same thing is going to happen correct? lets say I hold the option until it expires in July. I will then buy 100 shares at 40, etc? Or will I make the 4k then?"
If you hold it until it expires in July, then if it is ITM (or IN the money, which means that it would be trading above $40 since that is the strike price you chose), it would be automatically exercised. You can certainly do this if you would like to own 100 shares of SODA after July, or at any time before that you can trade out of it. Keep in mind that if SODA theoretically stays at 40.50 until July expiration, or just ends up closing at that price on the expiration date of your contract even after moving significantly in between now and that date, your option will only be worth .50 (or $50) per contract (down .30 from your original purchase of .80) because of time decay. If you'd like to learn about time decay I suggest googling it, and reading up on articles at 1option.com and optiontradingpedia.com to get you started.
The only way for you to make $4k on this one contract would be for the option price to move from .80 to 40.80 (this is because if a stock option is priced at $40.80, you're getting back $4,080 for one contract, which is what you own in this case, and subtracting that from $80, which is what you paid for the one contract originally). This is unlikely because it would take a sharp increase in $SODA's share price in a short time period.
Overall just understand that options are a leveraged vehicle which contain time factors, premiums, and decay. Read up on those websites thoroughly and you'll get the hang of it in no time.
Hope this helps.
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