Originally Posted by Columbia

I've been trading (and teaching as a former broker) in the options market since '87, so I know a thing or four (thankfully, mostly forgotten). Moron? Nope- you're the one who asked the question about what it would be worth ("Any math geniuses out there?") Then you said "That's like me holding 3,000 shares." Not quite. You have the option to buy 3,000 shares. My apologizes if you misspoke. In former teachings, this would often be stated and it got people in trouble who were new and just learning the CBOE. Good luck to you in your short term trade. A price pop tomorrow and Friday will be nice in your position. After a few "lessons" on big losses (after big gains), I leave it to the gamblers.