### Comment:
If he paid $1.05 for a $152.50 call, he is in the money at $153.55. 
 And deeper in the money the higher the stock trades.

### REPLY:
That's not what ITM means.  
  
 His breakeven is $153.55. 
  
 His option will be ITM once it goes past $152.50. intrinsic value = ITM. All extrinsic = OTM.

### END.