Expiration, Exercise, & Assignment

Did your long or short option position turn into stock? Take a gander in this folder to learn more about your situation.

I got assigned on a spread, help! How to set up a Covered Stock Order Video
If you’re reading this, then you probably got assigned early on a defined-risk spread. No need to worry, an assignment is a part of the short premium game...
What is expiration risk (equity options)?
Expiration risk refers to the potential of creating a large, unhedged position in an underlying due to the exercise/assignment process at expiration. The fo...
What is tastyworks’ expiration risk process?
The tastyworks risk team monitors potential expiration risk throughout the day and periodically sends notifications to accounts that have excessive potentia...
What happens to equity/ETF options at expiration?
Life is like a portfolio of options - when we approach expiration, we aren’t always sure what we’re going to get. Don’t worry, here’s a refresher to see wha...
What happens to equity/ETF spreads at expiration?
Do you have a spread (or vertical) facing expiration and don't know what will happen to it? Well, you've come to the right place. Below are three ...
I was assigned so should I exercise my long option?
To exercise or not to exercise -  that is the question. We’re not talking about working on your summer bod’. Today, we’re talking about exercising long opti...
What Happens at Expiration to a Cash-Settled Index Option Position?
Remember the adage “what you see is you what you get”? We’re here to tell you: that DOES NOT apply to cash-settled indexes. Unlike trading in equity/ETF opt...
Table of Expiration and Settlement of Cash-Settled Indexes
Monthly/Weekly Summary All of the options listed on the indexes below are cash settled. They are all European-style options except OEX, SOX, & XAU (whi...
How do I exercise my long options?
If you would like to exercise an option early, you must submit an exercise request to our Trade Desk (tradedesk@tastyworks.com) by 3:30 PM CT (Chicago time)...
When do options automatically exercise?
In-the-Money Options Automatically Exercise The Options Clearing Corporation (OCC) will automatically exercise any expiring options that close in-the-money...