I see my error now. I assumed the option would yield less because of the lower delta than the underlying but i have money invested in time value....
I did not include cost of carry because it didnot effect my out come. Which was early exercising and then offsetting with an opposite position...
Suppose i buy a ed call option with a delta of .5 at a price of 99.50. Now say prices rise one basic point in my favor. I would only make $12.50...
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