If I exercise a 2.50 call option a 2.60, does the transaction get booked at 2.50 or 2.60 or half and half? The value of the option if you sell is that price. If you exercize....the cost of that option is added to the 2.50 cost of exercizing If you bought the calls @ 10 cents then your cost for 1 share is 2.60 If you bought the calls @1.70 cents then your cost for 1 share is 4.20 (i had some)ouch! It has been my experiance that WAVX options are harder to make $ at then other options...especially near E date......I sold what I had last week @.30