You DO earn the portion from the then current price to the higher strike price when it is being called.
The real life example you may be able to actually learn something versus just assuming is to see how NVDA 950 strike that has only 2 days left, tomorrow morning. Both the call and the put have super rich premium of $40+ with only 2 days left. See how rapidly it deflates tomorrow on either the call or the put based on NVDA's reaction on ER. There is yet a 3rd scenario though very unlikely, the stock stay around the $950 strike after lots of gyration... then both the call and the put buyer make easy 9% with CONTROLLED, LIMITED Risk.
