Can a premium worth zero go up?

J

jr07

Hi

I have an ITT Corp. October 2010 Call SP 60 which I bought in April at 2.3$, and it it currently worth 0. Stock was 57$ when I bought the call and is currently at 47$.
Can this option gain value if the stock appreciates significantly? i.e moves close to 60$?
Or is it dead forever
J
 
An option is never dead, and never zero as long as it still has time left in it.

Could you share why you bought the call? I am always interested in reading about why people buy options (calls in particular).
 
Quote from jr07:
----I have an...option...that is currently worth 0.
----Can this option gain value if the stock appreciates significantly? i.e moves close to 60$?
More...
When speculative call-buyers let their call-premiums fall to "zero", it's bad. It's even worse if you offset the option while it has a lot of time remaining until expiration. Don't be an idiot twice. :mad:
 
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