I have one quick question about an options trade because it seems like a very good opportunity but I'm not sure if it will work. Their is a stock option which expires in this month with a strike price of $5 and this options' ask price is only 75 cents. The good thing about it is that the price of the actual stock is around $16.50. So if I by this option, can I exercise it to buy those shares for $5 and then sell the stock for $16.50 and can I do all of this on the same day, or is their a rule to options that would prevent me from doing this. Any help is greatly appreciated.