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Thanks. I needed that. I'm in this position right now, and trying to decide what to do.

I own 100 shares of NXPI, bought at 83, and covered it with a $90 March call. An unexpected merger shot the stock price to nearly 100 overnight (now 98.58).

The call expires next week, and I've been trying to figure out the best course of action. I still want to own the stock. My calculation, in which I have little confidence, had me making out a little better buying back the call once the time value is all gone, rather than letting it be assigned (and then buying back the stock).

But I'm going to apply your method...so thanks!

D
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