Inventory every contract

Record symbol, adjusted contract details, long or short side, quantity, strike, expiration, style, settlement, market value, and current exercise status. Spreads should also be examined leg by leg because assignment and exercise can separate them.

Check open orders, pending transfers, and buying power. A planned closing order is not a closed position.

  • Contract specification
  • Position side and quantity
  • Broker cutoff
  • Result after exercise or assignment

Confirm instructions and evidence

Decide whether to close, exercise, allow expiration, or submit contrary instructions based on the actual strategy and account rules. Verify accepted instructions and retain the confirmation.

Recheck after expiration for assignments, exercises, share positions, cash, and risk. Escalate discrepancies promptly through the broker's documented channel.

Referenced resources

Verification checkpoint

Have another reviewer derive the post-expiration account from the checklist without relying on the strategy name.