In the past I bought ATM Call costing 2000$ for nvda around 100$. It nicely returned about 11000% pct after holding for about a year. But I could have maximized even far more, I realized because at some point the delta reached 0.99 and since then It has been rizing about the same speed as 200 counts of NVDA stock.
Well I was not a big fan of OTM calls but then through recent adv. trading book, I could have possibly started off with DEEP OTM calls with delta < 0.1 and that can increased up to 1.0 after DEEP ITM.
Well since DEEP OTM < 0.1 delta is significantly cheaper and initially grows much slower compared to stock, I bought 8 calls vs. 2 calls. Now multiplier of 8 X 0.1 delta, I presumed it is likely to simulate the call with delta 0.8 which is already DEEP ITM.
Once if NVDA goes sufficiently go up beyond 325 then effective delta will go to stratosphere I think. If single delta approaches 0.99 the delta increase by 990% compared to ATM in which the delta can at most increase by 100%.
The only question is whether NVDA will do a winning streak like last few years. I am shooting to sell around 360$ range if it goes there before Jan 2019.