Yes, but make sure you have enough money or other collateral in your account to exercise, after all, you will be buying 10,000 shares at $5, and not sure what your margin requirements might be.

I would really consider selling some of your calls before news (especially if you already have a bunch of shares or warrants), and holding the rest till expiry. There is no assurance that you will have the opportunity to trade those calls before the news hits - they could play drama queen and halt the stock during trading and then indicate when they will give results, or, far more likely announce after market close (or premarket the next day, of course), and they could do that with no further warning than what they have already given - mid August.

Let's not forget, we are not the only ones expecting positive results. Those who have helped build the stock price to what it is now, from what it was a few months ago, are counting on "green light" results. How many people are left to buy after results (assuming good results, of course?). There are some, no doubt, but some of those potential buyers may well wait, letting whatever euphoria may grip us all to subside, and that could subside rather quickly. Typically, on a release this big, there will be a whole bunch of specs who barely know what this company does or who Al Mann is that will be day trading for all they're worth in the hours after good results. They could spike the price up nicely, but, so often after action like that, the price will hit the wall, and it will come down some.

One could also sell stock, warrants, options, whatever long position you have prior to release, and, with a portion of the money buy out of the money calls, short term, just in case the news is good to great, and the stock runs to $10-$12 or even more. All of these strategies are hedges, and when you hedge, you do mortgage your upside some, but you lessen the hit if things don't go as planned (for so many years).

Like I told you before, bospenc, great, great buy back in January!