The Aug qqqq option expire Fri at the close...is it the 4:00PM close or the 8:00PM after marketplace close?
Answers:
4 pm. and the guy below me have it wrong
This is straight stale TD ameritrade website.
Options expiration is this weekend. Per OCC policy, we will automatically exercise all expiring long equity option contracts that are at lowest possible $0.05 in-the-money and adjectives long index option contracts that are at lowest possible $0.01 in-the-money. To exercise option outside of these parameter, or to decline the automatic exercise of option inwardly these parameter, opportunity holders must notify Izone of their instructions by email at clientservices(a)ameritradeizone... The finishing light of day to trade equity option contracts expiring on Saturday, 08/18/07 will be Friday, 08/17/07. If you do not enjoy sufficient buying power to cover potential exercises or assignments, please deposit funds or close out your position beforehand marketplace close on Friday.
4pm is the answer.
It doesn't really work that opening. The option expire Saturday (I know, that's not what you've heard). You own until a constant time on Friday afternoon to obtain your exercise/don't exercise (does your broker automatically exercise positions that are surrounded by the money?) requests into your broker. That's the time you have need of to verbs going on for.
There are plenty of times that I don't exercise option that be contained by the money at 4 p.m. because they weren't surrounded by the money at 5 p.m. and I be competent to trade the stock within the after hours. For example, a couple of months ago I be long some $50 call and the stock closed at 4 p.m. on Friday at $50.10. I watch surrounded by the after hours and the stock go down to $49.80 so I call my broker at 5:15 p.m. and told him not to exercise. My broker's cut stale for market-makers is 5:30. The stock open Monday morning at $49.50.