ns calls

By mistake I bought 50 NS calls for BAC july 09. strike price is 15.00  at $ 1.15  now the stock is 13.78 today
now it is $ .15 is it   worthless or how it will work . can you give advise please

r patel

Sorry about the mistake.

First, I don't know which calls you own because NS simply means non-standard.  Thus, I have no idea what the underlying asset is.
By that I mean it is NOT 100 shares of BAC.

The first thing I'd want to know is why are you holding this option?  Do you know what it represents?  I don't have any idea.
It's rather late now, and it is a cheap option at 15 cents.  But, because I have no way to know what the call option is for
(i.e., what you have the right to buy at $15), I cannot give you any advice.  It would be a blind guess.


Mark D. Wolfinger

The Rookie's Guide to Options:The Beginner's Handbook of Trading Equity Options