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Strategies & Market Trends : Option Spreads, Credit my Debit
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To: NateC who wrote (489)2/10/1999 8:58:00 PM
From: jjs_ynot  Read Replies (1) of 2317
 
Nate,

For all index contracts and some others, the exchanges and SEC require that ITM contracts be exercised and the books to be squared.

For individual equities, it depends on the policy of the brokerage that handles the long side of the option purchase. Any brokerage that does not exercise an ITM option is going to get a lot of grief at best from the holder and potentially a lawsuit and/or arbitration claim. Expect to be called. Any other course is incredibly rare esp. in the last two years.

Dave
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