It is frustrating looking at this everyday, I have "far out of the money 85 calls", for Nov. and I will be lucky
if this gets to 85 by Nov. With the 98% inst. number, they can keep this down no matter what the earnings are. This yr. is a "sell in May and go away yr." It is even hard to try for $82.50's. going like this. I should have e bought BCEI in Jan. so far.
I have traded the August $77.50 calls eight times in the past month with positive results.
Last trade was today, sold them for $5.60 after buying them yesterday for $5. Yes it is only $0.60 but when you trade 30 of them it turns into real money. Lovely to get a 10% move on a 1% move in the stock.
I agree with muskyman quit hitting for the lottery with options those are losers most of the time. Buy the stock and forget it. If you dont have enough to buy the stock you dont have enough to be in the market.
I don't see any reason to be so downhearted. At the moment, the Nov85 calls are going for 4.20. In effect, you're paying 89.20 for the stock in November. Seems possible. As for "98% institutional" ownership, that's a myth. Unless you actually hold the physical stock certificates, which almost no one does, your shares are listed as held by an institution. (e.g. All of my shares are listed as held by Schwab, therefore an institution.) If I were playing options - which I'm not - I think I would take a flier on the July85 calls. They are selling for about half a buck now, but if they push this thing to 82.50 over the next week, they could double. (They're up 25% today.) The point would be to cash them in several days before expiration.