Amarin Corp Plc (AMRN)

[Protector]

Well, buying it back would cost you 5.50$ (Ask).
That would then give you the difference between the 11.25$ you already have and 15.14$ (the current AMRN price) = 3.89$
3.89-5.50=1.61$ So far that costs you 1.61$.

If you sell a MAY @15 (ITM) you get 1.10$ so you still would be 0.51$+0.14$=0.65$ short because in the best case you will get 15$ and not 15.14$ for the share.

Now just a purely rational question: Why would you give back part of your profits to deliver the shares to someone @15 in stead of delivering them @10 unless you believe the AMRN market price will be below 15$ on MAY 20? Or even better, if you do this transaction and they are below 15$, every cent less is extra dilution of your profits. There is only one answer and that would be that you believe they temporarily go down now and will at some later moment have a substantial rise again. In that case the theory of buying them back after MAY 20 may not be so bad.

I fail to see how you would come out ahead because a MAY @16 would even pay less (0.70$) and the other ITM calls have bad prices and move you back toward the @10 you have now.