What happens when you hold your options into expiration on Tiger Platform?

Ever wondered what happened when you hold option trades into expiration on Tiger Platform?


I executed the following multi-legs option trade sometime in August on IWM & held it to expiration on 16th September 2022:

  1. Long 1 x 175 Put 
  2. Short 2 x 185 Puts
  3. Long 1 x 188 Put

IWM closed at 178.99 at the end of last Friday’s (16th Sep) trading session.

So what happened subsequently?

On Sunday after 3pm, the option trades were settled in my Tiger account as follows:

  1.  1 x 175 Put  - OTM & Expired worthless & closed.
  2.  2 x 185 Puts - ITM & I was assigned 200 shares at 185 each
  3.  1 x 188 Put - ITM & exercised on my behalf and resulted in short 100 shares at 188

Now you know.

A word of caution: It is almost always prudent to close option trades before expiration. However there are situations where it makes more sense to hold it into expiration and let the broker do the needful. 

$iShares Russell 2000 ETF(IWM)$ 

@TigerStars 

#Options Hub

# Options Hub

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • Linearity
    ·09-23 02:18
    Ty for sharing
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  • Joedi
    ·09-22
    Good to know. Thanks for sharing.
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  • Big Little
    ·09-21
    OK thanks
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  • paul55555
    ·09-21
    Thanks for sharing
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  • Peter H
    ·09-21
    好👌🏻
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  • OldCat
    ·09-21
    Thanks for sharing
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  • Ztradee
    ·09-21
    Grateful for such information. Appreciate it.
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  • TANKH888
    ·09-21
    Thank you for sharing..
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  • Lynn098
    ·09-20
    Useful to know. Thank you
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  • 苗派
    ·09-20
    Good info to know 👍 Thanks for sharing
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  • RV726
    ·09-20
    i have a $12 strike option of ET with expiry on 7 Oct 2022......if it is itm ober the next week i plan to sell....are there difficulties to close options few days before expiry.......
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  • RV726
    ·09-20
    so OTM option or below strike at expiry is ok.....means you just loose the premium you paid for the options........if ITM they do not credit difference example in your case #2 you should have got {[(185-178.99) * 2 * 100] - premium} or something along those lines......but that was not the case......OMG......
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    • JIAMU OWL
      i am short 2 of the 185 puts but only long 1 of the 188 put. they did credit usd300 profit for the put debit spread. still 1 short put outstanding which was assigned.
      09-20
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    • RV726Replying toJIAMU OWL
      the case 2, 185 short put should by OTM and not ITM correct? i got the usd300 part......short put lost 179 - 185 = =6, long put won 188 - 179 = 9, so profit is (9 - 6) * 100 = 300......so if you are short a put or call option you get assigned the shares at expiry?
      09-21
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  • 谢谢你的指导
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  • SGboy
    ·09-20
    Thanks for sharing such situation.
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  • KDL
    ·09-20
    thanks for sharing this info 🙏
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  • Thanks for sharing 😊
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  • ilod
    ·09-20
    Thanks for sharing! 😘
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  • traderray
    ·09-20
    if no money, will they assign?
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  • Serene70
    ·09-20
    thks for sharing
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  • Peter H
    ·09-20
    好👌🏻
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