When my short call became ITM on expiry day, I thought I would buy to close the position. But the ask price price was 1% over the intrinsic value. I figure it would cost less if I just buy the stock to neutralize the assignment. Is this generally true? With spreads, if both legs are ITM or OTM, the exercise/assignment should cancel each other out and I don't need to do anything. If one leg is ITM, I would buy/sell stk to neutralize the ITM option. It's cheaper to trade stocks as they are more liquid. Is this what people do?