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rayvt:
What is the order of things happening?
Are you sure that you get the $42,500 first?
The order of cash flow is that you don't have to pay for your transactions immediately, there is a "settlement date" which is after the transaction. My broker (Fidelity) allows me to trade immediately on money it knows I am getting, so you should be able to buy the shares to cover using the strike price they know has to be coming in order for you to have to send those shares. And the actual cash probably gets moved the next day or so.
R:
