Buying call options is a lot like (American) football. Sometimes, you run the ball up the middle. And sometimes, you do a misdirection and run a bootleg.At their core, call options represent a mixture of speculation on time value and intrinsic value. Knowing which one to deploy depends on myriad factors, including confidence in analysts’ price targets and the math that the particular derivatives market is giving you. Frankly, some markets will be more robust than others, thus necessitating a shift in strate ...