Any suggested rules for purchasing and executing discounted calls?

Any suggested rules for purchasing and executing discounted calls?

 

If anything is discounted, I suggest you buy it.

Unless you're dividend capturing or otherwise dealing with liquidity issues in the underlying, I suggest you don't exercise them, because you'll lose the time premium.

 

What do you mean by "discounted calls."

 

You know, the ones past their expiration date? Can be bought real cheap sometimes!