Global Ship Lease Inc. Cl A (GSL) Social Stream

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$GSL Being a newbie to call options, I have a question. I have $17.5 Dec call options that are up about 16%. Should I sell them before the 0.25 dividend next week. The bid/ask spread is 0.30 (3.10-3.40), the open interest is only 334 so that makes sense. I would lose .30 selling at the bid. How much will the options drop on exdividend date? Is hanging on the better move since I would have to buy back in near the ask price or can I get back in at a lower price after the exdividend date? I've never had options with big dividends.