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
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