... advantages to a call purchase. They must both be seen as alternatives to buying a stock or other underlying.OThe first is to take advantage of market gains.OThe second is to limit exposure to ... the implied of your call increases from 8.14 to 8.59, your 128 call may, and often will, outperform by two ticks.Still another approach is to buy the 128–130 call spread. Here, your spread’s ... bullish in a stock you might, if compelled by the devil to sell premium, sell 5, April 95 puts at 10. You may also wish to buy the stock on a price decline but, in either case, your prudent...