OK You stepped up and put up $6500. IF the stock hits 485 tomorrow you MAY double that IF you sell. But you won't because IF it hits 485 then you will want to hang in for the big score. That Means you run with it til Friday. But then you will need 490.65 to break even.
Guess what. Look at every Friday for last several weeks. The price is always pinned almost to the penny to a $5 increment. If the trading gets around $485 then look for a pin at $480 and you are out. And if it is trading somewhat higher then the pin will go to $485 and you are still out and same for $490.
So what will move the stock up between now and Friday over $22 ? ? ?
Timid Cook sitting next to Michelle my Belle ?
If you truly feel that Apple will rise from this point by Friday then buy $470 calls. You will definitely get a good return even with a Pin at 480 and will only lose if it falls from here, which you clearly believe will not happen. Although you won;t have a 100 contracts if you just get to the breakeven point of your 490s each contract you do get will be in the money over $2000.
Look at the option at EOD. Your $490 is at .50 the $470 is at $4.20 So your $6500 is already lost $1500 .
However you could have had appx 11 contracts of 470 . Hitting your 490's break even point would return back $22000 while the 490's are still worthless.
I spent the time to go through this so you and everyone else can get a perspective on this whole mess. I sure your mileage may vary. I wish the best to all long short or sideways.