If I buy an Out of Money option and the option becomes In the money on the Friday of expiry, can I still expect to sell the option and close my position at a profit? Or is my only hope is to exercise the option and thereby have my profit? I want to avoid the stock commission costs, so the latter is a last resort.
I ask the question because I don't understand how someone would want to buy an option from me that is expiring the same day. What is in it for him?