For example, if XYZ trades at $50, the XYZ April 45 Calls will move up more (point-wise) than an XYZ April 50 Calls.
Going, Staying In-the-Money
But this works on both sides, which is why you don't want to go too far in-the-money.
You have to have a balance between buying deep in-the-money calls, and still staying relatively close to the stock price.
Because if you buy a call that is too far in-the-money, you cannot only make 98 cents on a 1-point gain in a stock, but you can lose 98 cents on a 1-point loss in the stock. And you want to enjoy the benefit on BOTH sides of the trade.
by Chris Rowe