Regulatory Alerts2024-11-21 | Information Notice 11/21/24Added · Updated
FINRA Reminds Firms of Exercise Cut-Off Time for Options Expiring on the Friday After Thanksgiving
FINRA reminds firms that the exercise cut-off time for standardized equity options expiring on November 29, 2024, is 2:30 p.m. ET, following the national options exchanges' early 1:00 p.m. close. This deadline is established pursuant to FINRA Rule 2360(b)(23)(A)(viii), which mandates a 1 hour 30 minute window after the announced close of trading instead of the standard 5:30 p.m. ET. Option holders must submit a Contrary Exercise Advice by this time to override automatic exercise procedures for in-the-money positions.
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