If your option is in-the-money, SoFi will exercise it for you automatically at expiration. If you’d like to submit an early exercise request, you will need to contact our Investment Specialist team at 855-525-7634.
Please keep in mind that:
- In many cases it’s often not in your best interest to exercise early such as when there is significant time value, or the option is out of the money. The following conditions must also be 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
- Once successfully submitted, an early exercise request will be submitted immediately if it’s placed during trading between 9 AM ET and 4PM ET. Please contact us before 4:30 PM ET if you’d like to cancel the exercise request. Early exercise requests submitted after 4 PM ET will be queued for the next trading day.
- If the early exercise occurs between 9 AM ET and 4 PM ET, the associated shares should appear in your account immediately; you shouldn’t see any pending exercise in your account.
- If the early exercise happens after 4 PM ET, it will be queued for the next trading day, and the associated shares will remain pending until the exercise has cleared.
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.