Lets say you have a long call option in the money and the dividend is greater than the remaining time value. lets say dividend 10 cents, Time value 3 cents . technically you really are only getting 7 cents but you still have to go long stocks and the stock could easily drop 15 cents lower. Why would someone exercise early and go long stock just to get a dividend, it seems like a risky play with not much gain. Wont it be smarter to sell to close and make your profit vs taking a big chunk of stock and trying to sell it quick enough. Cause it could gap down the next day.