I am in the same boat, except I have a higher basis :(.
Friday we saw ARR get up to 7.61 at its intraday high, so it's a bit frustrating to see it fighting for most of today between 7.57-7.58 with only 1 more day to go. For the past few mins it has been holding +3c (7.59), giving me hope of maybe getting back to that 7.61 later today.
My .02c (or .05, in this case) is to banish the idea of 20c from your thinking, that's a huge rise relatively speaking for tomorrow. Also, offhand I don't think there's a precedent in the past few ex-div's for any significant rise in ARR in the last couple days before a div, in some cases it might have even lost a few cents on the final day before ex?
My current thinking with a few hours left in the trading day is to TRY to force some discipline on myself, and sell half my options today (at a small loss), leaving the other half for whatever tomorrow may bring. I'm letting the hope-filled part of me have these last 3 hours to "wait" for a bump instead of just pulling the trigger now. Still a 20% chance though that I fail myself regarding "discipline" and let it all ride for tomorrow ;)
I suppose one outside-chance/alternative line of thought, is that since we're only talking a 10c div.. It is quite possible for ARR to recover that within days, let alone the 1.5 weeks between Weds and 9/22 Options Expiration. Shouldn't they be establishing the Oct/Nov/Dec divs soon? That news will likely move the stock...
I've been trying to sell them at .10 since Thurs with no takers even though the stock hit 7.61 if you can get .15 or .20 maybe Ill get my .10 same thing 3 months ago it hit 7.7 before I got .15 not very liqui very high viscousity not easy to tra e.