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Stock and Market Talk
Having trouble figuring out how to exercise an in the money call option
Title really says it all. Currently practicing with a paper account and the option expires in 4 days so I'd like to know how to actually exercise the option.
Bought 50 options with a strike price of 28.50 at 2.20 per share, and the stock is now sitting at around 33 dollars. Is it as simple as closing the option, or does that just put the option itself back on the market as an in the money option? Pretty new to trading and have been focused more on the techinical and fundamental analysis side of things to understand how options work on TC2000 software.
Also, does TC2000 automatically exercise in the money calls and puts at expiry out of curiousity?
It is not currently possible to exercise the option. Closing the option will put the option back on the market as an in the money option.
Thank you for your suggestion.
I assumed that since it wasn't mentioned anywhere on the help portion of the website, and that I couldn't figure out how to get the software to do it, that that was in fact the case.
Thanks for the verification.