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rew, but if it's a covered deep-in-the money call, there won't be a 250 loss because it is covered with the stock in hand. So, i should be receiving 520 premium plus the strike price. Isn't this right? Thanks. :):) piezoe, please explain, and thanks. :) :)

Say I sell 1 call for 5.20 (receive 520 premium)...At expiration, the call is worth 2.50 and expires out of the money. What happens if I do nothing...? Do I keep all 520 received as premium. Or do I keep only 270 (520-250)? I know I can buy it back before expiration, but I'd like to know how...