TWS (Desktop) Click the Account (or Trade) menu followed by Option Exercise Choose the option(s) and select " Exercise" to exercise the entire position, " Partial" (when applicable) to exercise or lapse portion of the position, or " Lapse" (only available on the last trade date) The instruction is shown on an order row. Click " T" to transmit the instruction. Right-click and select " Discard Modifications" to discard without submitting You can make the option exercise request final and unable to be cancelled or editable until cutoff time (varies by clearing house). In TWS, click File (or Edit) and select Global Configuration followed by Orders and Settings. Choose "final and cannot be cancelled" to allow for instant delivery of the stock. Please note, some contracts will not follow this rule and will remain revocable up until the clearing house deadline. Additional information on how to exercise options in TWS can be found in our Users' Guide. MEXEM Mobile Tap the Menu icon followed by Option Exercise Tap on the option you wish to exercise followed by "Exercise/Lapse" If you wish, check the box to "Allow exercising out-of-money" followed by the number of contracts you wish to exercise or lapse Once complete, tap the Submit button If there is a warning message, please read it, and if you wish to proceed tap "Override and Transmit". A summary page will populate Additional information on how to exercise or lapse a long option can be found in our Knowledge Base. If you have a time sensitive issue and need help exercising a long American style option you must call the MEXEM Trade Desk. Option Exercise requests may be submitted up until the times listed on the MEXEM web page for Delivery, Exercise and Corporate Actions. Option Lapse requests are only available on the last trade date. Important Note: In the event that an option exercise cannot be submitted via the TWS or MEXEM Mobile, an option exercise request with all pertinent details (including option symbol, account number and exact quantity), should be created in a ticket via the Client Portal window. In the Client Portal Message Center click on "Compose" followed by "New Ticket". The ticket should include the words "Option Exercise Request" in the subject line. Please provide a contact number and clearly state in your ticket why the TWS Option Exercise window was not available for use.
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