You're joking, right?
Options that are worth $5 do not just expire. Believe, if you didnt want them, you're firm would take them. 5 bucks is a lot of money.
The rules are that options in a customer account 3/4 point in the money are auto-exercised and options for firm accounts 1/4 point in the money are autoexercised.
They are trying to calculate the average commission charge. Nonetheless, if you had 30 options in the money 5 bucks, you should now have 3000 shares (unless there were some odd lot splits) in your account and you should verify this immediately and sell out the stock.
Also, since they exercised the stock, meaning you bot it at the strike price, 3000 share worth x strike price, you better make sure you have buying power to take in the stock, else you will have house calls. As well, don't ride errors like that. If you meant to sell out the options and now didnt, i would recommend cleaning out the position, take profits and move on. Dont play errors.
Regards,
Stev@yamner.com |
