... (tab.)overvalued options versusundervalued options, 50,52, 52 (tab.)theoretical value, 47–49Optionsbasics of, 21 35 in -the- money versus out-of- the- money options, 32 35 , 32 (fig.), 33 (figs.), 34 (tabs.)intrinsic ... Those who succeed consistently in the long run are thosewho make the effort and take the time to learn the skills re-quired to achieve lasting success. They apply these lessons in the real world, ... sellingstocks or futures contracts. A long stock position makes a pointeach time the stock rises a point and loses a point each time the stock falls a point. A given option position—depending on itsmakeup—might...