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How do I know if I got assigned?
You'll usually find out three ways: a notice from your broker, the option vanishing from your positions, and shares or cash appearing where it was. Most people see it the morning after.
The short answer
If you were assigned, three things change in your account:
- A notice arrives. Most brokers send an email, an app alert or a message in your inbox on their site.
- The option is gone from your positions page.
- Shares or cash replace it. A put assignment adds 100 shares and takes cash. A call assignment removes 100 shares and adds cash.
Assignments are processed overnight, so you'll usually see them before the market opens the next day.
What it looks like, side by side
| Put assigned | Call assigned | |
|---|---|---|
| Option in positions | Gone | Gone |
| Shares | +100 shares at the strike | −100 shares at the strike |
| Cash | Down by strike × 100 | Up by strike × 100 |
| History line | "Assigned" or "Assignment" | "Assigned" or "Assignment" |
| Premium | Still yours | Still yours |
The words differ by broker. You might see "Option assignment," "Exercise/Assignment," or a buy or sell of stock marked as from an option.
Where to look
- Notifications or messages. Check the broker's app and email. Some send it late at night.
- Positions. The "−1" option line is gone.
- Activity or history. Look for an entry dated the expiry day or the night after.
- Balances. Cash and buying power will look very different from the day before.
If nothing changed and the option is gone, it probably expired worthless. That's the good ending.
One example (an illustration, not a trade idea)
You sold a 30-day $45 put on a made-up stock, XYZ, for $1.00. Your broker held $4,500. At Friday's close, XYZ is at $41.
On Monday morning you see:
- A notice: "You were assigned on 1 XYZ $45 put."
- No put in your positions.
- +100 XYZ shares, cost $45.
- Cash down $4,500.
| XYZ when you check | Shares worth | Paid | Premium | Total |
|---|---|---|---|---|
| $41 | $4,100 | $4,500 | +$100 | −$300 |
| $38, after a weekend drop | $3,800 | $4,500 | +$100 | −$600 |
| $46, after a bounce | $4,600 | $4,500 | +$100 | +$200 |
Math examples, not promises. A weekend can move the stock before you can act.
Can it happen early?
Yes. US stock options can be assigned any day before expiry. Early assignment is more likely when:
- A call is in the money just before an Ex-dividend date.
- An option is deep in the money with little time value left.
So check your account each morning while you have short options open, not just after expiry.
What to do next
- Put assigned: you own 100 shares. In the wheel strategy, the next step is often a covered call at a strike above your cost. Or decide to hold or sell.
- Call assigned: you have cash. Decide if you want to sell another put.
- Not sure what happened? Call or message your broker. They can tell you exactly what was assigned and when.
Questions
Will my broker call me if I'm assigned?
Usually not. Most send an email or an app notice. It's on you to check, especially the morning after expiry.
Can I be assigned after the market closes on expiry day?
Yes. Option holders can exercise after the close, and a late move can change things. That's why you can see a surprise assignment on Monday.
What if I don't have the cash for a put assignment?
With a cash-secured put, the cash was set aside, so it's covered. If you used margin, you could end up borrowing. Talk to your broker right away.
How do I know if I was only partly assigned?
If you sold several contracts, check how many shares appeared. You might see 200 shares for 3 contracts. The rest are still open.
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