call 31.50 for a bargain
A bargain? The I-Vol on the OTMs is through the roof.
Mistake to buy options this close to earnings. Implied volatility normally goes up until earnings and then drops like a rock afterwards.
If I understand correctly- so then you have the option (not the obligation) to buy 100 shares at 31.50 within a certain period of time? How long did you get the option for? 30 days?
For FB, it can be weekly. Price must rise beyond the call strike price and the premium paid to be profitable.