Trading halted options
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Does anyone know what happens when a stock like HAR on Friday is halted on options expiration day, and you do not have a chance to close your position before the end of trading day? I am just curious, because these are some types of trades I could easily be in, hoping to close before market closes.
Trading Halts: Limit Up/Limit Down | Scottrade
What would become of my in-the-money puts, with nothing like the amount of capital needed to exercise the options? Bad things could happen, even with long options, due to auto-exercise. For example, IB will simply close you out Monday at whatever price: Funny you should mention HAR.
Less than 1 hour before the close, with the stock trading over 88, the Sep 85 puts still had around.
Thinking both short -term selling premium and long-term maybe HAR was not a bad buy at No takers, and then the contracts were trading at. I cancelled my order.
The stock was HALTED! In extended trading, I believe it was trading in the low 80s.
Buyers of the contracts at. Quote from Wayne Gibbous: If you own the call, or the 95 or 90 call, you do not have to exercise them - call your broker and tell them you do not want to - "Exercise by exception". If you are short an option, don't assume anything not only the puts, but I'll bet some people long stock and short 95 calls are in for a surprise when they're not assigned 2. If you are long a worthless option, stay awake on expiration Friday until an hour after the market closes - something might happen kny 3.
The stocks trading on and ECN lower then those call strikes those calls are worthless.
Why would you exercise them at 90, 95 or if you can buy the stock in the low 80's? Spindro, This is part of the quote from the OCC " HAR Expiration Exercise Procedures September series of HAR options expire September 22, For purposes of calculating a price for use in expiration processing, OCC WILL USE THE LAST AVAILABLE HAR PRICE FROM SEPTEMBER 21, OCC anticipates expiring HAR options will be processed in the normal fashion this weekend, including the use of the customary in-the-money thresholds to effect exercise of expiring HAR positions.
You must contact your broker to NOT exercise the 95 or call.
CLVS Stock Price - Clovis Oncology Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch
I'm not trying to beat you up, there will be people not assigned on calls or assigned on puts that may have a bit of a surprise Monday morning. I hope it's not you. Thats the OCC's position on things but if you're long those calls you'd have better told your clearing firm not to exercise them. Otherwise you're long stock from a lot higher then where its trading and rest assured that most of the people long those puts are going to exercise them.
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