不过我正有疑问：how to lock in the gain? Let's take my stated examples of 15/20 spread 1.84. At $16.84, I purchase the $15/share option, then what should I do? Buy the actual stocks at $15 and sell them for $16.84 to get my $1.84/share cost back? If so, when the stock rises up to $23/share and N wants to buy the stocks for $20/share, I will have to buy 100 shares at market price $23 and sell N for $20/share. In that case, I will lose ($23-$20)/share * 100 = $300, right?
I know sapientaf meant something else. It's just I do not know.
