Q: Are options always exercised when in the money?
i.e. I hold calls that expire in the money. Will my broker exercise them and put shares in my account? If I have no cash will they buy and sell the shares for me?
Say there are five thousand $60 call contracts in existence. Stock hits $60 at 4PM Friday. Will all 500,000 shares be called away from the writers? I have had this scenario happen to me and my shares were called away.
Thanks
i.e. I hold calls that expire in the money. Will my broker exercise them and put shares in my account? If I have no cash will they buy and sell the shares for me?
Say there are five thousand $60 call contracts in existence. Stock hits $60 at 4PM Friday. Will all 500,000 shares be called away from the writers? I have had this scenario happen to me and my shares were called away.
Thanks