Some baseball teams have a style built on speed, enabling them to manufacture runs -- typically, when a batter reaches to get to first, steals second, gets to third on a sacrifice bunt, say, or rounds home on a fly ball.

Speed is a strategy that sometimes works for my deep-in-the-money options trading system, which has a win record of 95-1. Some of my option picks have been known to meet my price target and close out the same day the order was placed. When that happens, my take on the win is $1,000, or $1 per option, because these quick wins do not involve any additional buys of the same option as prices drop.

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For positions that remain open much longer, I specify lower price levels at which subscribers may build on the position. This practice lowers the average cost per option. But when a position closes the same day it is filled, that capital is immediately freed up for other investing opportunities.

Picks that have filled in the same day include an initial investment of $6,900 in

Microsoft

(MSFT) - Get Report

on Nov. 13; $12,000 in

United Technologies

(UTX) - Get Report

on Oct. 23; $8,700 in

Halliburton

(HAL) - Get Report

on Oct. 17; and $8,200 in

Cisco

(CSCO) - Get Report

on Oct. 10.

Other same-day closeouts include an investment of $17,900 in

Parker Hannifin

(PH) - Get Report

on July 16; $17,100 in

American Express

(AXP) - Get Report

on May 29; and $12,800 in

3M

(MMM) - Get Report

on May 1.

So the return on those one-day closeout positions, excluding broker fees, ranged from 5.59% to 14.49%.

For readers new to call-option trading strategies, today I'll review some of the fundamentals of getting started.

What are the mechanics of placing a simple DITM call purchase?

To place a simple DITM call order, you need the option symbol and the premium price. The order you place is a limit order, as opposed to a market order. A limit order allows you to buy at the price you have requested or better. If you place an order for $10.00 and the option at that moment is trading for $10.00 or less, you will reap the benefit of the lower price, but the trade will not execute higher than your limit.

Make sure the type of order you place is a buy-to-open order, as opposed to a sell-to-open order. In sell-to-open orders -- referred to as naked selling -- you don't own the underlying asset. Selling naked calls requires a hefty margin account, because the downside risk to the investor is unlimited. When brokers see that trading accounts have been depleted by naked selling, they make margin calls to their clients asking that the accounts be replenished. Margin calls are not our friends, so I do not trade on margin.

Traditionally, we want a good-till-cancelled order in place, so the order will remain open until filled or until we cancel it. However, due to the high volatility of the market, I recently changed my trading strategy so that orders that go unfilled at the end of the day are cancelled.

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Once an order fills and is added to our portfolio, I instruct subscribers to immediately place an order to sell the options at a price $1 above my purchase price. This creates a price target on the option at which we will cash out of the position and take our wins. For the sell order, another GTC order allows the win to execute for us automatically when the option price hits our limit order price.

Lenny "Nails" Dykstra, a guy who's used to winning, consistently profits from his deep-in-the-money options calls. You can, too, with his

Nails on the Numbers

.

Try Lenny's service free

and see how it works for you. If you decide to subscribe, just one winning call will pay for a whole year!

At the time of publication, Dykstra had no positions in stocks mentioned.

Nicknamed 'Nails' for his tough style of play, Lenny is a former Major League Baseball player for the 1986 World Champions, New York Mets and the 1993 National League Champions, Philadelphia Phillies. A three time All-Star as a ballplayer, Lenny now serves as president for several privately held businesses in Southern California. He is the founder of The Players Club; it has been his desire to give back to the sport that gave him early successes in life by teaching athletes how to invest and protect their incomes. He currently manages his own portfolio and writes an investment strategy column for TheStreet.com, and is featured regularly on CNBC and other cable news shows. Lenny was selected as OverTime Magazine's 2006-2007 "Entrepreneur of the Year."