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So, your net entry per LUK share is 20.50/.81 = $25.31.
With today's LUK price at $25.01, that's a premium of 31 cents.

Thanks for the detailed calculations Jim.

To compare the Jan 2013 $15 call which has a premium of 31 cents for 205 days to expiry,
the Dec 2012 $15 call has a premium of only 11 cents for 177 days to expiry.
(I took the mid price between bid and ask for both).

Seems like the Dec deal is the better of the two.
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