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Last December I bought deep in-the-money calls:

January 2020, 135 strike price. I paid $28.15/share for 6 contracts.

I sold one earlier this year, and have 5 left. My cost: 28.15 × 5 × 100 = $14,075

Current bid price: $130.37

If I were to sell them now, I'd get $65,185. (And I'd have to pay short-term capital gains tax.)

If I did my math right, that's a return on investment of 363.13%

I cannot credit my personal genius for this this (paper) windfall, because while I expected it to go up, I was expecting something more like 15% or 20%.

Now, if the share price can just stay high until December 27, I can sell it and pay the lower long-term capital gains tax. (And if I can wait until January 2, I won't have to pay that tax for 15 months!)

In 2008 I lost $20,000 on options, so I don't always pick winners.

If you're wondering why I bought contracts that were deep in the money, it's because I'm risk-averse (read: chicken).
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