What will happen to my Options contract on expiry?

In the Money (ITM) Options Contract:

Long Call Options contracts that are ITM will be exercised on expiry if you have sufficient buying power. Your position may be auto-liquidated before the market closes if you do not have sufficient buying power or have submitted a Do not Exercise (DNE) request.

Long Put Options contracts that are ITM will be exercised on expiry if you have sufficient underlying securities, or you may end up with a short position if the underlying securities allow shorting. If you do not have sufficient underlying securities, the securities do not allow shorting, or you have submitted a DNE request, your options position may be auto-liquidated before the market closes.

Covered Call Options contracts may be exercised by the buyer, and you will be required to deliver the underlying shares to the buyer.

Covered/Cash Secured Put Options contracts may be exercised by the buyer, and you will be required to receive the underlying shares from the buyer.

Out the Money (OTM) & At the Money (ATM) Options Contract:

OTM & ATM Options contracts may expire worthless on the stated expiration date regardless.

Note:

1. Auto-liquidation is subject to market liquidity and is not guaranteed.

2. Auto-liquidation is submitted using Market Order.

3. Short selling is only applicable to clients with a margin account.