Look at the analysis , risk/reward of this trade. Weekly AMZN . expired yday 4 pm ET.. during the day it was 167. towards the end it went to 165.5.. I was short the 165 puts. I had sold them at 1030 a.m for 18 cents. LOL free money. .that was what I thought. Then towards 330pm. I got nervous.. and decided to close them. it kept bouncing up and down.. finally I closed it for 8 cents. it went to 2-4 cents.. Bid /ask.. it was 165.5 . no one would want to exercise them.? but wait . in After hours.. AMZN fell 1.7$. So theoritically if you were holding the puts, from 4 pm to 530pm. you could call your broker and get them exercised.. and at the same time buy shares back at 163 in the after hours market. so if you bought it for 2-4cents.in the final minutes of trading . your lotto ticket could give you a 150 cent return.. to even more..check the chart... I am in CDT.. hence the time shows 1500 as mkt close time so the time to exercise the option is upto 1.5 hours after close.
ANOTHER ONE. popped up yday... at close the PCLN 420 put was trading 0-10 cents.... and many got executed at 5 cents. then in after hours.. you could buy the shares at 419.5 and make a 10 fold profit. by calling your broker and getting the put assigned in after hours.. even if your put is not in the money at close.. you can call your broker till 430pm and get it assigned. 10 fold return gamble.. not bad.. huh ?