Exercise Options

Exercising an option via websocket is a multi-step flow requiring a series of handshake and confirmation requests. Developers should also maintain Live Order Updates during the exercise process to confirm final results.

Step 1: Initiate Exercise

Send the shs topic with the exercise argument and pass the option’s contract identifier in the CEX field.

shs+exercise+{"CEX":"Your_Option_Conid"}

Step 2: Receive Available Actions

The server responds with an acknowledgement followed by a message containing available user actions (such as "Submit" or "Cancel"), contract details, position information, and a tracking id. An in-the-money warning notification may also be received and should be noted but does not require a response.

{"topic":"shs+exercise"}
{"data":{"user_action":[{"id":"submit","text":"Submit"},{"id":"cancel","text":"Cancel"}],"underlying_price":"$211.35","contract":"**AAPL** JUN 28 '24 192.5 Call","underlying_symbol":"AAPL","exercise":{"confirm":false,"confirm_final":false,"enabled":true},"revocable":false,"loading":true,"hold":{"confirm":false,"enabled":true},"qty_lapse":0,"submitted":0,"qty_hold":0,"sec_type":"OPT","qty_exercise":0,"underlying_conid":"265598","morning_expiration":false,"id":5,"position":50,"deadline":"16:25"},"action":"content","MID":"14","topic":"shs+exercise"}
{"data":{"submitted":0,"qty_hold":0,"qty_exercise":0,"warning":"Currently the option is in-the-money by the amount of 18.85 (more than 5 ticks)","exercise":{"confirm":false,"enabled":true},"revocable":false,"loading":false,"qty_lapse":0},"action":"content","MID":"17","topic":"shs+exercise"}

Step 3: Submit the Exercise Request

After receiving the id from the prior response, send an inp topic with the exercise argument. Pass the id, set user_action to "submit", specify whether the exercise should be final with make_final, and provide the quantity to exercise via value.

inp+exercise+{"action":"user_input","data":{"id":"5","user_action":"submit","exercise":{"allowed":"not_shown","make_final":true,"value":5}}}

Step 4: Handle Confirmation Warnings

If additional confirmation or warnings are required, a new message is delivered with a new id. Respond with the inp+exercise topic, passing the new id and "continue" as the user_action.

{"data":{"user_actions":[{"id":"continue","text":"Continue"},{"id":"cancel","text":"Cancel"}],"id":7,"text":"This exercise request will be final and irreversible. Once submitted, the option position and the stock position will update immediately.","title":"Warning"},"MID":"19","action":"prompt","topic":"inp+exercise"}

inp+exercise+{"action":"user_input","data":{"id":"7","user_action":"continue"}}

Step 5: Confirm Order via Live Order Updates

Once the exercise is confirmed, an order update is delivered via the sor websocket topic.

{"topic":"sor","args":[{"acct":"DU1234567","conidex":"708764406","conid":708764406,"account":"DU1234567","orderId":827785484,"cashCcy":"USD","sizeAndFills":"0/5","orderDesc":"EXERCISE 5, Day","description1":"AAPL","description2":"JUN 28 '24 192.5 Call","ticker":"AAPL","secType":"OPT","remainingQuantity":5.0,"filledQuantity":0.0,"totalSize":5.0,"companyName":"APPLE INC","status":"Inactive","order_ccp_status":"Pending Submit","supportsTaxOpt":"1","lastExecutionTime":"240624150344","bgColor":"#000000","fgColor":"#AFAFAF","isEventTrading":"0","lastExecutionTime_r":1719241424000,"side":"EXER"}]}