Although the question is in the title, I'm trading AMC options on NYSE, and I'm the seller of a vertical spread. Can I get assigned after the market has closed on weekdays like today? I've heard that 1:30 hours after the market has closed on Fridays it can be exercised, but today is a Thursday. So can I suddenly wake up to know that I'm at a loss?

  • You can wake up and be at a loss whether the owner exercises or not...
    – D Stanley
    Aug 26 at 21:48

The owner of an American style option (equities) can exercise his contract any time before expiration. It's my understanding that you have until 5:30 PM EST to do so on expiration day but I have read articles that say 5:00 PM.

Exercise of your option does not create a loss. Assuming that there isn't a pending dividend, the ITM short leg is already ITM with no time premium remaining. You have already incurred the loss. It's just not realized until assignment occurs.

  • well im still not at a loss its just that the contract is reaching closer and closer to the strike price which makes me really nervous
    – Imeguras
    Aug 26 at 22:15
  • If the short option is approaching the strike, it might be a good idea to either close the position or roll it down a strike or more. If it gets ITM, you'll be buying back intrinsic value if you want to close and that will be more costly. Aug 26 at 23:27
  • nearly had an heart attack today, i decided to hold the shares, i was running 38/28 vertical spreads on AMC with the expiration set for today, when i woke up and saw that the options volume was over the top i freaked out, but my broker takes so much comition that its better to risk 900€ than go at a loss when even when the delta on the contract is pretty much gone
    – Imeguras
    Aug 27 at 22:03

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