Loading ...Let me see if I can give you a few options for your SAND calls.
1) You can sell your options that you bought at .30 for .50, and make a nice little profit….
2) Because there’s still about four months to December option expiration, you could sell the same number of calls that you own, at the higher strike of 8, and create a “call spread.” On a 1 year chart for SAND, there looks to be some resistance in the $7 range. Even if the stock ran up to the area of $8.18 by the December option expiration ( reached this past March), your 7 calls would be worth $1.18, and your short 8 calls would be in the money by .18. That’s a net return on the spread of $1.00 ( minus your initial investment of .30), or .70.
3) Just continue to hold your Dec. 7 calls and see how high the stock can continue to climb by December expiration, and then cash them out.
Hope this helps a little.