The honest math: most OTM calls expire worthless. The lottery-ticket appeal of buying cheap far-OTM calls is the single most expensive habit beginners develop. The disciplined version of this trade uses ATM or slightly ITM calls (delta 0.50–0.70), 30–60 days to expiration, on stocks the trader already has a directional thesis on. That setup costs more in premium but has a meaningfully higher probability of profit.
Exit plan: take profits at 50–100% return on the premium paid; cut losses at 50% of premium paid; never hold a long call into the last week before expiration unless you intend to exercise. The reason for the time-based exit is gamma — the option's sensitivity to the underlying explodes in the final week, and so does the daily theta drain.