Assigned Out-of-Money FRC PUT Despite Closing Above Strike Price and Now Facing Delisting
$First Republic Bank(FRC.US$ I have encountered a peculiar situation and wanted to ask if any of you have experienced something similar. I sold FRC 230428 PUTs with a strike price of $3.50, and on the day of expiration, the closing price was $3.51, which should have left my PUT options out-of-the-money. However, on Monday, I received a notification from my broker that I was assigned FRC shares, even though the options were out-of-the-money.
To make matters worse, FRC has now been halted from trading and is undergoing delisting procedures by the NYSE. This means that I cannot even trade the shares I was assigned, and their value is essentially reduced to zero.
Has anyone encountered a situation like this before? This is the first time I have experienced being assigned out-of-the-money options. I have tried reaching out to MooMoo's customer service, but they have not responded yet. Any insights or advice would be greatly appreciated.
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102726762 : Puts can be exercised at any time. Not just at end of day.
Alex Wong Cian Yih OP 102726762 : I appreciate your response, and I understand that puts can be exercised at any time, not just at the end of the day. However, my question is: How can we know if the put options we sold will be exercised before the expiration date? If we could be aware of this possibility in advance, we would have time to take action and potentially reduce our losses. Any insights on this would be helpful. Thanks!
桃太娘 : FAQ: How do I contact customer service? Hope this helps you, Singapore has a 24-hour hotline![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
awang2001 Alex Wong Cian Yih OP : put option can be executed in any price according to put buyer. Friday after market price was already $2
Calm922C23 : if your account not enough money, moomoo unable to exercise will terminate the transactions? transfer all your available fund out or make sure fund not enough for exercise?
Calm922C23 : same date I sell put option 5.5 Monday already exercise.