### Comment:
Say an option expiring this Friday was exercised overnight and the person ends up with 100 shares this morning. The person thinks the underlying has more room to run but doesn't think it will happen in the next 3 days. Making a play with the shares allows setting something up with a longer time frame. I find it very unimaginative of you to not be able to conceptualize a situation where holding shares acquired by option assignment is more profitable than only trading the option.

### REPLY:
So would there be arbitrary opportunities? someone exercise the options right to buy the shares only if they find that it’s cheaper than buying the shares from the market.  
  


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