Why the Spread Beats the Long Call

@ironchef, let's assume the underlying spot was 151, and that all strikes around 150 in steps of 1 are avail, DTE was about 9 (ie. on last Wednesday), IV is about 44. Which strike for your sole LongCall trade would you have used in the said scenario? The same used strike 150 as in the example?

Just for orientation: here the current data: last Friday the underlying stock closed at 153.31, and the Call options are these:

 

I actually like OP because it pointed me to look at things a little different so I won't be too complacent.

And thank you for the coaching. I personally learned a lot from you. It was always a pleasure reading your posts.

 

Thanks. I will take a look.

 

OP certainly provided food for thought.

IMHO, its very difficult to go against ones "comfort zone"...

OP doesnt love being naked long options and bleeding..

I certainly get that....

 

Corrected, thank you for highlighting this!

 

I won't trade any of those. I have very different criteria to consider if I want to place a trade, or not.

 

It bleeds only if the underlying won't move or IV won't explode.

 

Not following you..
Are we talking long options??

 

Yes, if the underlying goes up, my call option may not be bleeding premium, if IV explodes my option may not be bleeding premium.

 

LOL,I wouldnt know,my stocks stop going up as soon as my option is ATM

Speaking of call losing theta as the stock explodes,did you look at FSLR?