Option leverage is a great way to trade a stock you are long on as your cash outlay is less than if you purchase the physical stock. However factored into the price of any option is the 'time value of money' re the expiry date. As the BPCO's are set to expire in August, as each day passes, the time to exercise gets closer thus eroding some of your leverage premium.
Just my thoughts.
Best of luck..
As you know... I am and have been for some time long on this stock.
Kiril
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