My current understanding seems to make no sense, so I'd appreciate it if someone could correct me.
In [this](https://imgur.com/a/O3KOHC2)[ ](https://imgur.com/a/O3KOHC2)screenshot, the current stock price is $11.90 with $2.5 calls going for \~$8.50, expiring today. If I were to buy one of these calls and exercise it I understood that I would pay the contract price x share volume + the strike price x share volume.
Assuming a volume of 100 shares that would mean the total cost to me would be $850 for the contract + $250 to exercise for a total of $1100.
If I then turned around and sold 100 shares at the current share price of $11.90 I would get $1190, or exactly $90 net profit. I assume my understanding must be wrong or else why wouldn't I just take the free $90? Should I just assume fees would eat that $90?
