Fastest way(s) to move the cursor on a terminal command line?

What is the best way to move around on a given very long command line in the terminal?

Say I used the arrow key or Ctrl-R to get this long command line:

./cmd --option1 --option2 --option3 --option4 --option5 --option6 --option7 --option8 --option9 --option10 --option11 --option12 --option13 --option14 --option15 --option16 --option17 --option18 --option19 --option20 --option21 --option22 --option23 --option24 --option25 --option26 --option27 --option28 --option29 --option30 --option31 --option32 --option33 --option34 --option35 --option36 --option37 --option38 --option39 --option40 --option41 --option42 --option43 --option44 --option45 --option46 --option47 --option48 --option49 --option50

Now I need to move (starting from the beginning or the end of the line) the cursor to --option25 to modify something there.

What is the fastest way to get there? What I usually do is Ctrl-A to get to the beginning and then repeatedly Alt-F to move forward, word by word (or Ctrl-E to go the end and Alt-B to then go backward). But on a long line that takes too much time. There must be a way to search and jump directly to the part I need to modify, e.g. option25?

Solution

Since this hasn't been closed yet, here are a few more options.

Use Ctrl+x followed by Ctrl+e to open the current line in the editor specified by $FCEDIT or $EDITOR or emacs (tried in that order).
If you ran the command earlier, hit Ctrl+r for a reverse history search and type option25 (in this case). The line will be displayed. Hit Tab to start editing at this point.
Use history expansion with the s/// modifier. E.g. !-2:s/--option25/--newoption/ would rerun the second-to-last command, but replace option25. To modify the last ./cmd command, use the !string syntax: !./cmd:s/--option25/--newoption/
Any delimiter may be used in place of / in the substitution.
If editing the previous line, you can use quick substitution: ^--option25^--newoption
Character search. This was mentioned by Pax, and can be done in regular emacs-mode with Ctrl+] for forward search, and Ctrl+Alt+] for backward search.

I recommend the second option. Ctrl+r is really handy and fast, no mucking about with editors, and you see the results before the command is run (unlike the history expansions).