### Comment:
No the hypothetical contract would give him the purchase price of $275 per share x 100.   
  
  
 So now he has posted that he bought 4 $240 calls at $1.45 a piece (this means $145 as $1.45\*100).  When the stock was at the peak of $318 today, the value of each contract value is $318 - $240 = ($78\*100) + Extrinsic value.  So 4 \* $7800 = $31.2K.

### REPLY:
But isn't that assuming he actually buys the shares? He stated it was his last $500ish right? So doesn't he only make the value of the contract not the actual stock price?

### END.