This is captured in the concept of Delta one of the “greeks” which is a parameter in the black scholes equation and solution that tries to measure the pricing movement of the option relative to the price movement of the stock. Owning stock has a delta of 1. ITM options have a delta closer to 1 but not exactly 1, OTM options have a delta closer to 0, but not exactly 0. ATM options of a delta around .5.
If you bought a deep itm call, it would behave almost exactly like owning a share. The stock goes up 5% , your call goes up 5% + 1% let's say for the increased iv.
If you felt like there was a 75% chance it would go up 5% and a 25% chance it goes flat or down, then your best expected value would be buying a otm call. The math would look something like ev= .75 * 400% + .25 * -100%
And even then, nobody holds an option that went the wrong way to 0, so the -100% term would be less as well.