How do I exercise my options contract? (Can I exercise my options contract before the expiration date?)
You can choose to exercise your options by contacting us through the Help Center or by contacting a broker. Through the Help Center a memo can be sent with exercise instructions that specifies the following:
1 - Contract
2 - Quantity
3 - Action statement "I would like to exercise the following options ...."
A submission of an exercise request does not guarantee that the exercise will be accepted. Please keep in mind, exercise requests are done on a best-effort basis as it is currently a manual process. The underlying may fluctuate between the time your instruction is received and the submission of the exercise.
What will happen to my account if I exercise my option contact?
If you would like for us to manually exercise your contract before the expiration date, the following will happen depending on the contract:
For call options
With a cash account, your cash will be frozen until the exercise is processed.
With a margin account, your buying power will be frozen until the exercise is processed.
For put options
The positions/Cash in question will be frozen until the exercise is processed.
What is the DNE button for?
You may find a “DNE” button when placing option orders or by selecting the position. DNE stands for Do-Not-Exercise.
Enabling the DNE button：
The options contract will not be automatically exercised when it expires no matter if it is ITM, ATM or OTM. However, it may still be auto liquidated on the day of expiration.
Disable the DNE button：
The options will automatically be exercised if they expire $0.01 or more in-the-money.