It has happened to me many times that I was assigned SPY on option expiry date and I covered my short or long position with a great profit on Monday. If you are too worried, put an order to cover at 179.90 GTC including trading hours outside regular hours. Most probably you will wake up tomorrow and see that your order has gone through and you will be all set.
http://www.barchart.com/commodityfutures/Gold_Futures/GCV1 Trading higher right now....good luck in the morning. This once happened to me on 5000 shares. Be happy your only short 200.
Yes, it's just 200 shares short plus as I mentioned I have a 177 oct call. I have 2 of those as well so delta is only around -70
I was assigned a long position on SPY 3 weeks ago, following the S&P debt downgrade after not buying back a weeky PUT that closed ITM. Had major losses that following Monday. Furthermore, I was playing an awful calendar call spread on the VIX and my front month was losing money insanly while the back month was hardly reacting. When I made that trade I didn't see that coming but ofcourse it makes perfect sense. So that week I had major losses, not on pure-poor-market-judgement but on lack of experience perhaps. But in the last 2 trading days last week, GLD and SPY were good to me so made it all up. Have a great week everyone
What did u do with your short position? I wanted to recommend you that if I were you, I would keep it with a stop loss at 200.3 which would be about 460 minus the money that you got from the calls but since my last two predictions came out wrong, I did not want to mislead you more. I hope you kept your positions so that you could cover it with profit today.