We’ll attempt to exercise any option you own that is $0.01 or more in the money, as long as your account has the following conditions met:
- You have the required buying power (in the case of a call option)
- You have the necessary underlying shares to sell (in the case of a put option)
- You have not asked SoFi to submit a Do-Not-Exercise request on your behalf. The cut-off time for submitting a Do-Not-Exercise request is 4 PM ET.
If you don’t have enough buying power or shares to exercise your option, we may attempt to sell the contract in the market for beginning at approximately 2 PM ET on the options’ expiration date.
Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire amount invested in a short period of time. Before an investor begins trading options they should familiarize themselves with the Options Disclosure Document. Tax considerations with options transactions are unique, investors should consult with their tax advisor to understand the impact to their taxes.