Exercise an Option

Use the Option Exercise window to exercise options prior to their expiration date, or to exercise options on Expiration Friday that would normally be allowed to lapse according to OCC rules. You can also import a file with instructions, using the Load From File button on the bottom of the Option Exercise window.



To exercise an option

This process is irrevocable; once you commit to exercising an option, you cannot undo your actions.

  1. From the Trade menu, select Option Exercise.
  2. In the Option Exercise window, highlight the option you want to exercise in the Current Long Option Positions portion of the window.
  3. Click Exercise.
  4. Review/modify the number of contracts you want to exercise and click OK.

    Note:  You cannot enter a value greater than the quantity in the Current Long Option Positions box.

  5. Review your selection, and click "Yes" at the message that asks if you're sure you want to exercise the selected option.

The exercised option appears in the Outstanding Exercises portion of the window until it is cleared by the OCC.