Options trading close to expiry

Hello,

Can somebody recommend a broker (preferably with API), which doesn't forcefully close your long options positions (expiring same week) when they get in the money?
Interactive Brokers is unfortunately exceptionally annoying for this one.

 

Not Tradier and not Robinhood.

 

Hello! Chris here with Tradier Brokerage. We give our customers until 3:30 PM EST to close their expiring options if the account does not have the funds to sustain the exercise/assignment. As well, if the customer contacts us that day to let us know they are on top of these options, we will typically give the customer additional time (possibly until 3:55 PM EST). For options trading until 4:15 PM EST like SPY, we will give customers until 4:05 or 4:10 PM EST to close them out. If you have any additional questions, please email service@tradierbrokerage.com. Thanks!

 

I've never been punched out at Lightspeed, you'd have to check their policy though.

 

What do you mean IB forcefully close ITM option?
By assignment or cash settlement close?
I was never forced anything until now.

 

If your "Post Expiry Margin" shows negative in Account window, IB will close positions about an hour or so before EOD. If you have enough cash left for exercise and assignment then you shouldn't see that.

 

If you do not have the money in case of exercise the broker SHOULD close your position. Why should they be nagging you after the fact when you cannot come up with the margin?

 

If they do it only on expiration date - I'm completely fine with that. But IB's risk system starts complaining 3-4 days before expiry.
Of course you can say: you need bigger account and smaller risk per trade, but that's out of scope of my question.

 

I find that hard to believe. There must be more to the story than long ITM options a few days before expiry.

 

Option_Attack described things accurately, I have nothing to add.