I dunno wtf is up with fidelty customer service line, I could not get through to them yesterday or today, endless wait. My question is, will fidelity automatically execute my puts if they are in the money at market close today or is there something I need to do before hand?
Lazr still hovering between 25 and 27, I got to decide soon to cut bait and take some loss or let it ride to market close.
if an option is even 1 penny in the money they will execute it. Start at pages 10.
You should be receiving emails daily on options expiry.
If I recall there is a button or email you should have gotten that says I dont want to be assigned. It has to be done ahead of time.
edit: also this..
Assignment
If you sell an option, you have an obligation to sell stock if you are short a call, and an obligation to buy stock if you are short a put. The owner of call or put options has the right to
assign the contract to the seller. This is known as assignment.
Assignment occurs when the buyer exercises an options contract on or before expiration, and the seller must fulfill the obligation by either buying or selling the underlying security at the exercise price. As a seller of options, you can be assigned at any time prior to expiration regardless of the underlying share price—meaning you might have to receive or deliver shares of the underlying stock.
Depending on your position, settlement can occur in a variety of ways. If you are assigned on a covered call, for example, the shares you own will be sold automatically.
Let the options expire
Remember, options have an expiration date. They either have intrinsic value (for calls, the stock is above the strike price, and for puts, the stock is below the strike price) or they will expire worthless. If the options have intrinsic value, you should plan to exercise at or before expiration, or anticipate having it automatically exercised at expiration if in the money. If they do not have intrinsic value, you can simply let your options expire. Of course, letting options expire can also have tax consequences.
