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You can exercise your options by calling us (855-880-2559855-207-2559) Monday – Friday excluding stock market holidays during regular business hours 8:00 am EST – 4:30 pm EST. The resulting position will be reflected in your account the following business day.
At expiration, equity and index option positions that are in the money by $.01 or more will be subject to automatic exercise and/or assignment. The resulting position will reflect in your account the following business day.
Please note that if you are holding in-the-money options and you do not have enough equity or you do not own the underlying security, you will be responsible to cover the resulting long or short position. If your long equity option is in the money but you do not want to be subjected to automatic exercise, please contact us by 4:30 pm EST on the last trading day for that option to submit a do not exercise request. If you do not have enough equity in your account to cover an automatic exercise, Ally Invest may at its discretion let the option expire with no exercise even if, theoretically, it should have been subjected to automatic exercise. Please also note, Ally Invest's Risk department reserves the right to close an option position in a client's account at their discretion without prior notice.
The tax lot allocations you submit through Maxit Tax Manager are for display purposes in Ally Invest and don’t directly modify any tax reporting on your 1099 – B. If you want to modify reporting for your 1099 – B for a specific tax lot, call us at 1-855-880-2559 before the settlement date of your closing transaction.
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