Did you already close out your position? I don't see any open interest on that contract.
Few things here though:
- Don't trade weekly contracts (unless high volume). They are less liquid, so much harder to trade out of, meaning the bid-ask will be wider and probably harder to get a fair price. This leads me to believe...
- You overpaid. The bid ask for the 12 August expiration $51 strike is $5.05 to $5.50 - the market value is somewhere in the middle there, so $5.275
- It sounds like you bought today, but just something to keep in mind - even if the underlying goes up in value, the option may not because of time decay. 12 August expiration is 37 days away, so each passing second is eroding your premium; however...
- You bought deep in the money, so as you said, it should be moving with the underlying, but as I said, less liquidity means life isn't fair and you won't necessarily get what it's worth. You'd need a more significant move to get your fair value.
- Remember, you're often trading against computers who say, fukk your premium, you're in an illiquid options contract and my algorithm tells me VZ has low volatility, so I'm willing to take the risk of not buying back your contract at a loss because I don't think it'll continue to go up or you'll panic and sell back at a loss.
