Option Auto-Exercise Rules

Stock options that are in-the-money at the time of expiration will be automatically exercised.

For puts, your options are considered in-the-money if the stock price is trading below the strike price. Conversely, call options are considered in-the-money when the stock price is trading above the strike price. For example, if you own a call option with a strike price of $50, and the stock closes at $50.01 on the day your call expires, we will exercise your option.

To prevent automatic exercises, please call us prior to 4:15 p.m. ET, on the last trading day of your options contract. For more information on automatic exercises or to exercise options that are not in-the-money, please call us at 800-544-6666.