I'm short some 267 SPY puts and trying to determine if I'll get assigned or not. SPY doesn't stop trading until 4:15 ET. However, TD, yahoo, google, etc. report the close at 4:00. It was close to 267 at 4:15 ET. Is there a place that lists the official closing price of SPY and other ETFs that trade until 4:15? I would define "official" as being the last trade that took place while the options market was still open.
I'll let you know on Monday. I know that there's multiple exchanges and each exchange can have it's own closing price, but I wish my broker or public quote sources would list the correct close price for ETFs that trade until 4:15. It's not just SPY, there are actually quite a few ETFs.
I'm seeing a close at 266.51, Currently trading around 267. It went up after 4 as the S&P futures rallied after 4 until they closed at 4:15. Whether or not you are assigned is based on the 4pm closing price, so you should be assigned based on the 266.51 price To add though, the long holder has the option not to exercise, so he may file a contrary exercise as the Spy's ran up, so you really wont know until Monday. If I had to bet, I'd say you will be assigned.
To add one more, the long holder has until 530pm to file the contrary exercise (most brokers have an earlier cutoff) so where the SPY's trade until the also matters (They continue to trade after 415)
Are you sure about that? I might be misunderstanding, but the reason that I asked the question was because of this article: http://theoptionspecialist.com/2016/06/27/exercise-options/ Although the article states: "These options even trade through 4:15 p.m. Eastern, but the options are settled based on the 4 p.m. close." And then goes on to give an example where worthless puts at 4:00 became ITM at 4:15 and got assigned to those who were short. So that seems to imply that it's the 4:15 PM trade price that matters. Which would make sense as that's when the option market closes for these ETFs.
Your puts were trading .04 at the close, so if this happens again you may want to consider buying them in so you don't have any assignment risk.
The 4pm price is used for a closing price. This is the price that will be used for auto exercises. The long holder still has the option to not exercise his option, or exercise one that is out of the money at 4pm. Where the SPY is trading later will obviously affect his decision.
I usually do...I stopped watching after the 4:00 close and thought my puts would be assigned (I want them to be assigned to cancel out some short ITM calls) and was surprised that SPY came back that much. Probably due to triple witching. Anyhow, if the consensus is that the puts won't be assigned, then I can simply buy SPY right now in the aftermarket to neutralize my position and effectively wake up flat SPY on Monday. If it will be assigned, then I don't have to do anything to end up flat.