### Comment:
But would he make more money by exercising options or just selling. Also, another question is why would someone else buy his options that are expiring on that day

### REPLY:
It depends on how much ITM the option is whether he would make more by exercising or selling, whether or not he has to buy the shares in order to exercise or already has them so there is no black and white answer. The answer to your second question is in my comment above, he doesn't have enough capital to buy the shares to exercise the option/doesn't own 800 shares.

### END.