Has anyone used Interactive Brokers "TPLUS2" orders for early settlement on equities? I have some questions... According to this link, it allows a trader to buy stock, settling a day earlier, in order to deliver those shares that are to be called away from a covered call you have written. https://www.interactivebrokers.com/en/index.php?f=13437 I know that in order to do this, I must enable the feature in my "Account Management", and when placing the order, I select the order destination in TWS to be "TPLUS2". However, after reading IB's webpage, I'm still a bit unclear as to the mechanics and timing of how to use this. Let's make an example: 1. I am long 100 shares of XYZ, which I purchased a long time ago for a price much lower than where XYZ is currently trading at. 2. I sold one covered call against XYZ for normal monthly expiration on Friday March 17th, 2017. 3. The price of XYZ shot up after I had sold the call, and is now at the money or slightly in the money. As expiration approaches, I am of the mindset that, if XYZ closes above the strike at expiration, I will want to buy "new" 100 shares of XYZ to deliver and use their cost basis for tax purposes in 2017, instead of using the cost basis of the "old" shares that I purchased a long time ago. My questions are: What day/time must I fill an order directed at "TPLUS2"? Does it have to be on that Friday March 17th? Can it be in the extended trading session after 4pm eastern? Do I have time to even do it on the following Monday March 20th? My follow-up question is, after I buy the shares with TPLUS2, do I need to use the "Tax Optimizer" tool in TWS to select the specific lots that are used for the assignment? Or will IB do this automatically? And if I need to use the "Tax Optimizer" tool, what day on this timeline must I use the tool to select the appropriate lot of shares? Thanks.