5pt spread expiring at 4.7?

Discussion in 'Options' started by a529612, Jul 20, 2007.

  1. Are you trading with TOS, because I let those expire all the time. They've never given me a hard time about it.

    I've also been assigned on ITM positions several times without enough cash in the account and still no problem. My account pulls up a -(#######) liquidation value until I have a minute to offset the assignment. If both legs are ITM at expriy the transaction should happen on its own.
     
    #11     Jul 21, 2007
  2. in any case, I guess you just found a reason to sell the OTM vertical rather than buy the ITM equivalent.:D
     
    #12     Jul 21, 2007
  3. I'm sorry. I misread the OP's position. I thought the defered strike was otm.
     
    #13     Jul 21, 2007
  4. No, I'm with Eturd.
     
    #14     Jul 21, 2007
  5. You are right. I called the Eturd's options specialist line. The guy said I don't need to close out the position if it is DITM. So the Eturd regular CSR gave me the wrong info.
     
    #15     Jul 24, 2007
  6. That is the problem going to a non-option type of broker like E-trade. Almost everyone will have no clue how to handle a long call spread ITM at expiration except the one option specialist guy who sits in a corner office somewhere never getting called on lol.
     
    #16     Jul 24, 2007