What happens if I let a short call expire worthless on a synthetic long stock I've purchased. Here's my scenario.

Bought a CALL @ 870 and sold a PUT @ 870 both expiring in 177 days. Also sold a CALL @ 650 expiring in 2 days (stock was initially around 870 but it dropped to 670ish).

What happens if I let the 650 CALL expire in the money and also out?

Please see image for a better idea.

screenshot - options position

  • It appears from your screenshot that these options have already expired. What gives? Commented Oct 6, 2021 at 19:13
  • No, if you look at the days, it's 2 days left for the call option and 177 days left for the other call and put option
    – Anonymous
    Commented Oct 6, 2021 at 19:26
  • In the screenshot, where does it say '22 instead of '21 ? Commented Oct 6, 2021 at 19:44

1 Answer 1


At expiration, an option is either worthless or it's worth close to its intrinsic value. If it expires in-the-money then you will be assigned.

If the options involved have different expirations then you'll need an option pricing model to map out the value of the non expiring options at near term expiration.

  • How do i get such a model?
    – Anonymous
    Commented Oct 6, 2021 at 19:28
  • You can download it for Excel and there are option pricing models on the web. Commented Oct 6, 2021 at 19:44

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