Will Zecco Trading close my long option positions for me if I submit “DO NOT EXERCISE” instructions?
No. Instructions “NOT TO EXERCISE,” will not be considered as standing instructions to close long option positions. It is the customer’s responsibility to address open positions in the customer’s account. Example: If you are long a call or put that is in the money and you send instructions “NOT TO EXERCISE”, it is your responsibility to close that option position before it expires. If you do not close the position, it may expire worthless and you may lose the premium you paid for the option.
