Just a quick questing regarding a simple CALL position and what to look for in Greeks if you want to roll the position slightly up and forward: Position: 90 contracts long CALL XYZ Strike 290 with exp in June 2010. Initial option price was 48. Stock price currently trading around 340 and current option price is around 55. Implied vol is around 27%-29%. You think that the stock can go higher during 2010 to level +380 and you want to roll the position forward to September or December and up to strike 320. There will be bumps on the road where the stock price can go from 320 to 360. At what stock level should you make the move forward and up? â When the stock price is considered high (350-360) or low (320-330)? And should you consider the time near or far from exp date?. It seems that when the stock price is high you will buy the smallets amount of time-value in the new position.