Physically settled stock options can be exercised through the platform. To exercise your option(s), please follow these instructions:
- Log in to your account on the desktop version of the platform or the app.
- Go to the options section in your portfolio and select 'Exercisable Options'.
- Select 'Exercise' for the option you wish to (partially) exercise.
- Insert the number of contracts you wish to exercise. The share quantity and order amount are automatically amended based on number of contracts requested, the contract size and strike price.
- To confirm the exercise, select 'Submit request'. If submitted successfully, you will see a confirmation.
- Important: Please ensure you have sufficient margin (available to trade) at the daily exercise deadline of 17:40 CE(S)T to avoid a rejection. Please note that the margin required for your exercise is not automatically blocked once you have submitted your request, and it is your responsibility to ensure that you have sufficient margin available at the deadline. For a small number of fixed income options on Eurex a different deadline applies, please see exceptions below.
All open and historic exercise requests can be reviewed under exercisable options and the tab 'Requests'.
If you wish to cancel or amend a pending exercise, please go to 'Requests' and select 'In progress'. In the next overview, you are able to cancel your request or amend the number of submitted contracts. Important: The daily deadline for exercising your options is 17:40 CE(S)T (exceptions may apply, see below). After the deadline, pending requests can no longer be amended or cancelled.
What is the deadline?
Instructions for options trading on exchanges, such as Euronext Amsterdam, Brussel, Paris and Eurex, should be submitted before 17:40 CE(S)T, on or before the expiration day. The deadline to exercise your Italian stock options on Euronext Milan and Eurex is at least one day prior to their expiration date.
For early exercise requests, the daily deadline is 17:40 CE(S)T. Requests received after the deadline will be processed the following workday.
An exception to the deadline applies to options that settle in the delivery of a fixed income future on Eurex. Such exercises are required to be submitted no later than the deadline of 17:20 CE(S)T. This applies to OGBL and OGBS options, for example. In case this is applicable to your position(s), please make sure that you have sufficient margin at 17:20 CE(S)T.
What if I don't sell or exercise my stock settled options before expiry?
If you do not exercise or sell your long stock settled option contract before the expiration date, it will expire worthless. There is no financial benefit to us.
Where do I see my options are exercised?
If the exercise is successfully processed, you can review the bookings in the account and transaction overview. Also, the resulting positions will be reflected in your portfolio. With regards to fees, please note that for each exercised contract, a settlement fee of €1 applies. For more information on fees, please see our Fee Schedule.
In case your exercise request is rejected, for example, due to insufficient margin, you will be informed by e-mail that your exercise could not be processed. Additionally, you can find the rejected request in the platform or mobile app under 'Requests' and the tab 'Cancelled'. If you instruct us to exercise more than one stock option and you don't have enough free space to exercise all of your stock options, we will exercise the option(s) that are deepest in the money first. The stock options that cannot be exercised will be booked out worthless on the expiration date.
Only long and physically settled options can be exercised. Short or cash settled options are not accessible in the exercisable options overview. Assignments on short positions are processed upon assignment, and cash settled options are automatically settled in cash upon expiry. If you exercise an uncovered put, please be aware you will create a short position.
In case of any technical disruption, option exercise requests can be submitted by e-mail to the Order Desk. Please ensure to submit your request from your registered e-mail address and include the option name, the number of contracts and the last three characters of your username. If you are unable to submit an instruction through the platform or by or e-mail, exercise requests can be instructed by phone as an exception. See Derivatives Conditions for more information.