Subject: Re: What covered calls you got?
Only the person holding the call at expiration is likely to exercise it (if it is in the money). No matter how many times a call is bought/sold someone will hold it at expiration.

That last bit is a good illustration generally, but isn't quite true. The open interest can fall prior to expiration. Only the contracts that are in the money and still open at expiration date will get exercised.

Jim