GLD closed at $127.91 today.
The closing bid on the call option was $4.85 and the closing ask was $4.95.
Notice that this call option still has INTRINSIC VALUE at expiration because the market price of GLD was much higher than the strike price of $123.
I was "assigned."
CONCLUSION: I am happy with this trade.
I received the following email from the PRESIDENT of TD Ameritrade at 1:00AM that night:
Dear Valued Client,
You have recently been assigned the following option position:
1 GLD Sep 30 2010 123.0 Call
If you don't have sufficient cash or positions to cover this assignment, please wire the necessary funds or make the necessary trades to close your position.
If you want to trade the position created by this assignment but it hasn't posted to your account yet, you can place your trade by calling a broker. Please let the broker know the reason the order can't be completed online in order to receive the Internet commission rate.
If you have questions, please call Client Services. Please enter your account number or UserID when you call to receive the best possible service.
John B. Bunch