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Mike,I don't know what price you paid for the shares, but if you sell $7.50 calls you will be called away at any price of $7.50 or more at expiration in December. I didn't understand the reference to $8.30 per share.
Sorry, offline a while.If the stock closes at 7.50 you will get 7.50.You already received the .80 when you sold the call.If it closes at 8.30 you will get 7.50.That's what you sold the call for. The buyer of the call will pay you 7.50 and you'll lose the sahres you offered for the .80.Yo will lose any profit from 7.50 to 8.30. That will belong to the call purchaser.
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