I am relatively new to crude oil options. I am considering shorting a September 80 call for a premium of 2.40 ($2,400). This option expires August 17th but as oil moves higher and higher, I am curious to know what will happen to my option should it expire with September CL trading above $80. Should I be exercised, will I then be short one September CL futures contract from $80? Since I got a credit of $2,400, wouldn't my trade still be profitable until September CL goes above $82.40? Or does CL options operate differently......... I am not asking for an opinion as to where CL is headed. Just want to know how CL options work.