Break even only matters if your going to exercise the optionI'm just getting into options, but I can tell you what I've learned:
1) I look at the "Greeks" specifically "Delta." I wont even bother with an option unless it has a .70 (70%) delta.
2) I don't really worry about "Theta" (Time decay) because I buy options that are at least 60 days out.
3) Whatever I buy, I make sure that I know my "Break Even" point.
4) I look at Open Interest as well. I need a high Open Interest, because I want to make sure that whatever I buy is liquid.
I hope this helps...
70 delta is great but those must be itm stocks mostly.
And time is ya best friend