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What can I do if my option contract is going to expire?

For OTM/ATM options:

You can close the positions before 16:00 EDT of the expiration date. Be wary that it might close worthless.

For the ITM options:

If you can support the exercise/assignment - Webull at our sole discretion and without prior notice may exercise any in-the-money options that remain in the account on their expiration day as long as they are in-the-money by $0.01 or greater. Otherwise, you may liquidate your option before 4:00 EDT on expiration day. 

It is your responsibility to have sufficient buying power in your account to support option exercises and assignments. If you do not have sufficient buying power to cover any possible exercise or assignments you must deposit funds or close the position by the close of the market before expiration. Webull reserves the right and at our discretion to liquidate options positions that pose risk if exercised or assigned.

Option trading entails significant risk and is not appropriate for all investors. Option investors can rapidly lose the entire value of their investment in a short period of time and incur permanent loss by expiration date. You need to complete an options trading application and get approval on eligible accounts. Please read the Characteristics and Risks of Standardized Options and Option Spread Risk Disclosure before trading options.

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