You don't have to wait for expiration. You can "sell to close" a bought call or "buy to close" a sold call at any time to lock in profits or cut losses.
Limited to the premium you paid. If the stock doesn’t reach the strike price by expiration, the option expires worthless, and you lose 100% of your investment.
If the stock skyrockets, you are obligated to sell the shares at the strike price, missing out on all gains above that level.
AI responses may include mistakes. For financial advice, consult a professional. Learn more