Does CommSec automatically exercise options?
At close of business on the date of expiry, CommSec will automatically exercise any long equity option position that is in the money by 1c or more. Index options are automatically exercised if they are in the money by 0.1 point or more compared to the OPIC (opening price index calculation).
What if I do not want my options position to be automatically exercised?
If you do not want to exercise an in-the-money options contract, you must contact CommSec on the options expiry date prior to 4:30 pm (Sydney Time). We will accept verbal instructions not to exercise the options. Your request will effectively cancel your contract and cannot be reversed.
For further clarification, please call the CommSec Options Desk on 1800 245 698 (8am to 5:30pm, Monday to Friday, Sydney time).
