Exercise/Lapse Options
The Exercise/Lapse Options tools allows investors to exercise options prior to their expiration date. To do so, please take the steps outlined below.
- Click the Trade tab followed by Exercise/Lapse Options.
- Alternatively, click Menu in the top left corner > Trade > Exercise/Lapse Options.
- A list of long options positions will populate.
- Each option position will show a OTM or ITM tag
- OTM: Out-of-the-money
- ITM: In-the-money
- To exercise an option, select the options position from the list populating.
- Input the number of contracts to exercise.
- If the option is OTM, select Allow Exercise.
- Select Submit.