Woodside Still a Good Bet, page-182

Rollercoaster
if you just buy calls then you can only lose what you paid
so limited downside , unlimited upside
my example I bought $18 calls when WPL was at about $18
i paid $2.40 each option that expires june23 so at the time I had about 2.5 years for the price to be above $20.40 ($18 +$ 2.40)
that’s my break even price , anything above that is profit

Example
buy 100 WPL cost $2400, profit is $1000 per $1 of WPL over $20.40 so same as owning 1000 WPL
(I have much larger position so watching closely but this is only short term BHP owner noise I would say)