I have some wbc shares that I bought ages ago and having been steadily writing options against each month. I'm happy...it gives me some pocket money and I make sure that my strike price will give me a tidy profit.
I logged on to Etrade Friday afternoon to find that the option has been exercised at what could only be a minimal gain if not a strike even for the buyer when considering all the brokerage costs. They would have bought my option for $340 and the strike price was $21.50 with wbc being at around $21.93 on Friday. Am I missing something here? Why would they exercise this option?