An early assignment is most likely to happen if the call option is deep in the money and the stock’s ex-dividend date is close to the option expiration date.
If your account does not hold the shares needed to cover the obligation, an early assignment would create a short stock position in your account. This may incur borrowing fees and make you responsible for any dividend payments.
Also note that if you hold a short call on a stock that has a dividend payment coming in the near future, you may be responsible for paying the dividend even if you close the position before it expires.
If it's at expiration | If it's at expiration |
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This means your account must have enough money to buy the shares of the underlying at the strike price or you may incur a margin call. Actions you can take: If you don’t have the money to pay for the shares, you can buy the put option before it expires, closing out the position and eliminating the risk of assignment and the risk of a margin call. |
An early assignment generally happens when the put option is deep in the money and the underlying stock does not have an ex-dividend date between the current time and the expiration of the option.
Short call + long call
(The same principles apply to both two-leg and four-leg strategies)
If the and the at expiration |
---|
This means your account will deliver shares of the underlying—i.e., sell them at the strike price. Actions you can take: If you don’t have the shares to sell, or don’t want to establish a short stock position, you can buy the short call before expiration, closing out the position. If the short leg is closed before expiration, the long leg may also be closed, but it will likely not have any value and can expire worthless. |
This would leave your account short the shares you’ve been assigned, but the risk of the position would not change . The long call still functions to cover the short share position. Typically, you would buy shares to cover the short and simultaneously sell the long leg of the spread.
Pay attention to short in-the-money call legs on the day prior to the stock’s ex-dividend date, because an assignment that evening would put you in a short stock position where you are responsible for paying the dividend. If there’s a risk of early assignment, consider closing the spread.
Short put + long put
If the and the at expiration |
---|
This means your account will buy shares of the underlying at the strike price. Actions you can take: If you don’t have the money to pay for the shares, or don’t want to, you can buy the put option before it expires, closing out the position and eliminating the risk of assignment. Once the short leg is closed, you can try to sell the long leg if it has any value, or let it expire worthless if it doesn’t. |
Early assignment would leave your account long the shares you’ve been assigned. If your account does not have enough buying power to purchase the shares when they are assigned, this may create a Fed call in your account.
However, the long put still functions to cover the position because it gives you the right to sell shares at the long put strike price. Typically, you would sell the shares in the market and close out the long put simultaneously.
Long call + short call
If the and the at expiration |
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This means your account will buy shares at the long call’s strike price. Actions you can take: If you don’t have enough money in your account to pay for the shares, or you don’t want to, you can simply sell the long call option before it expires, closing out the position. However, unless you are approved for Level 4 options trading, you must close out the short leg first (or simultaneously). The easiest way to do this is to use the spread order ticket to buy to close the short leg and sell to close the long leg. Assuming the short leg is worth less than $0.10, the E*TRADE Dime Buyback program would apply, and you’ll pay no commission to close that leg. |
Debit spreads have the same early assignment risk as credit spreads only if the short leg is in-the-money.
An early assignment would leave your account short the shares you’ve been assigned, but the risk of the position would not change . The long call still functions to cover the short share position. Typically, you would buy shares to cover the short share position and simultaneously sell the remaining long leg of the spread.
Long put + short put
If the and the at expiration |
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This means your account will buy shares at the long call’s strike price. Actions you can take: If you don’t have the shares, the automatic exercise would create a short position in your account. To avoid this, you can simply sell the put option before it expires, closing out the position. However, you may not have the buying power to close out the long leg unless you close out the short leg first (or simultaneously). The easiest way to do this is to use the spread order ticket to buy to close the short leg and sell to close the long leg. Assuming the short leg is worth less than $0.10, the E*TRADE Dime Buyback program would apply, and you’ll pay no commission to close that leg. |
An early assignment would leave your account long the shares you’ve been assigned. If your account does not have enough buying power to purchase the shares when they are assigned, this may create a Fed call in your account.
(when all legs are in-the-money or all are out-of-the-money)
If all legs are at expiration | If all legs are at expiration |
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For call spreads, this will buy shares at the long call’s strike price and sell shares at the short call’s strike price. For put spreads, this will sell shares at the long put strike price and buy shares at the short put strike price. In either case, this will happen in the account after expiration, usually overnight, and is called . Your account does not need to have money available to buy shares for the long call or short put because the sale of shares from the short call or long put will cover the cost. There will be no Fed call or margin call. |
Pay attention to short in-the-money call legs on the day prior to the stock’s ex-dividend date because an assignment that evening would put you in a short stock position where you are responsible for paying the dividend. If there’s a risk of early assignment, consider closing the spread.
However, the long put still functions to cover the long stock position because it gives you the right to sell shares at the long put strike price. Typically, you would sell the shares in the market and close out the long put simultaneously.
How to buy call options, how to buy put options, potentially protect a stock position against a market drop, looking to expand your financial knowledge.
Out of 6.36 crore shares, 63,60,590 shares or 10% would be allocated to retail investors on aug. 19, it said..
Vedanta Ltd. said on Friday that it plans to exercise the oversubscription option in its current offer for sale of Hindustan Zinc Ltd, which will include an additional 1.21 crore equity shares.
That represents 0.29% of the company's total issued and paid-up equity share capital, supplementing the initial base offer of 5.14 crore equity shares, or 1.22% of the company's total equity share capital, according to the statement to the exchanges. The overall offer size will, therefore, increase to 6.36 crore shares or 1.51% stake.
Additionally, 63,60,590 equity shares, or 10% of the offer, will be reserved for retail investors on Aug. 19.
Vedanta on Wednesday approved a 13.37-crore share sale of Hindustan Zinc via an offer for sale, representing a 3.17% stake. The floor price for the offer for sale is set at Rs 486 per share and will be open from Aug. 16 to Aug. 19, according to a notice on the BSE. Vedanta held a 64.92% stake in Hindustan Zinc as of June.
Earlier, the Anil Agarwal-owned Vedanta got a nod from the bourses to demerge its aluminum, oil and gas, power, steel and metal businesses into separate listed entities.
The demerger will assist in simplifying the company's corporate structure by creating independent business. It will also allow foreign investors to infuse money directly in these pure-play companies, boosting the country's economic growth.
Shares of Vedanta closed 2.21% higher at Rs 428.95 apiece on the BSE, compared to a 1.68% rise in the benchmark Sensex.
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Expands Total Contracted HPC Infrastructure by CoreWeave to 382 Megawatts at Five Core Scientific sites
Increases Potential Cumulative Revenue to More than $6.7 Billion over 12 Years
Core Scientific Actively Seeking Additional Sites to Expand HPC Hosting Capacity beyond Original 500 Megawatts
AUSTIN, Texas --(BUSINESS WIRE)-- Core Scientific, Inc. (NASDAQ: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced that CoreWeave, the AI Hyperscaler, has exercised its option to contract for additional infrastructure pursuant to the terms provided as part of the previously announced 200 megawatt (“MW”) hosting contract for high performance computing (“HPC”) entered into with CoreWeave on June 3, 2024 .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240806345985/en/
Core Scientific is a leader in digital infrastructure for bitcoin mining and high-performance computing (Photo: Business Wire)
Under the terms of today’s announced agreement, Core Scientific will modify its infrastructure to deliver approximately 112 incremental MW for HPC to host CoreWeave’s NVIDIA GPUs. Site modifications are expected to begin in the second half of 2024, with operational status anticipated in the first half of 2026. This new 12-year HPC hosting contract will further expand Core Scientific’s exposure to contracted, multi-year, dollar-denominated revenue. The new contract with CoreWeave is expected to add approximately $2.0 billion in projected additional cumulative revenue over the hosting contract’s 12-year term to the more than $4.7 billion in projected cumulative revenue associated with previously announced contracts with CoreWeave, for a total of $6.7 billion .1
“We have now contracted with CoreWeave for a total of 382 megawatts of HPC infrastructure, reflecting the strong demand for high-power data center infrastructure and the unique ability of our team to deliver it,” said Adam Sullivan , Core Scientific’s Chief Executive Officer. “The latest contract also validates that our strategy for developing application-specific data centers aligns with the increasing energy density requirements for high-performance computing that legacy data centers do not typically satisfy.”
“CoreWeave has one remaining option for 118 megawatts of our infrastructure and we are actively building our pipeline of potential new sites to expand our infrastructure portfolio and business opportunity. By maximizing the value and increasing the scope of our infrastructure portfolio for HPC hosting and bitcoin mining, we believe we can grow our business and the value we deliver to clients and shareholders,” Mr. Sullivan added.
Consistent with the terms of the agreements with CoreWeave previously announced on June 3rd and June 25th, 2024 , all capital investments required to modify Core Scientific’s existing infrastructure into cutting-edge, application-specific data centers customized for dense HPC will be funded by CoreWeave. The new agreement with CoreWeave also provides opportunities for two renewal terms of five years each.
Building on the previously announced 270 MW of infrastructure for HPC hosting, the agreement announced today will position Core Scientific to provide a total of approximately 382 MW of HPC infrastructure to CoreWeave by the first half of 2026. CoreWeave retains optionality for further expansion with an additional approximately 118 MW of infrastructure for HPC hosting at another Core Scientific site, which if exercised would place Core Scientific among the largest publicly traded data center operators in the United States .
With its total of 1.2 gigawatts of contracted power, Core Scientific is able to deliver a total of nearly 500 MW of infrastructure for HPC hosting to be used for alternative compute workloads based on geographic proximity to major cities and fiber lines.2
About Core Scientific
Core Scientific is a leader in digital infrastructure for bitcoin mining and high-performance computing. We operate dedicated, purpose-built facilities for digital asset mining and are a premier provider of digital infrastructure, software solutions and services to our third-party customers. We employ our own large fleet of computers (“miners”) to earn bitcoin for our own account and provide hosting services for large bitcoin mining and high-performance computing customers at our eight operational data centers in Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1) and Texas (3). We derive the majority of our revenue from earning bitcoin for our own account (“self-mining”). To learn more, visit www.corescientific.com .
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “opportunity,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “potential,” “hope” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include, but are not limited, statements regarding potential benefits of or expectations regarding the strategic relationship, agreements and contemplated transactions with CoreWeave, impacts on the Company’s revenue, financial and other operating results, completion and timing of certain events, impacts on the Company’s trading multiple and ability to deliver shareholder value, the Company’s intention and ability to capitalize on additional or related opportunities, and the Company’s plans, objectives, expectations and intentions. The Company’s actual results may differ materially from those anticipated in these forward-looking statements as a result of certain risks and other factors, which could include, but are not limited to, unanticipated difficulties or expenditures relating to the strategic relationship, agreements and contemplated transactions with CoreWeave; the possibility that the anticipated revenue, financial and other operational benefits of the strategic relationship, agreements and contemplated transactions and additional opportunities are not realized when expected or at all; disruptions of current plans and operations caused by the announcement and execution of the strategic relationship, agreements and contemplated transactions; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business, regulatory or employee relationships, including those resulting from the announcement or execution of the strategic relationship, agreements and contemplated transactions; unexpected risks or the materialization of risks that are greater than anticipated; unavailability of expected power or materially adverse changes in the terms associated with available power; occurrence of any event, change or other circumstance that could give rise to the termination of the contracts with CoreWeave; delays in required approvals; the availability of government incentives; and legal proceedings, judgments or settlements in connection with the strategic relationship, agreements and contemplated transactions, as well as other risk factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission .
These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including those identified in the Company’s reports filed with the Securities and Exchange Commission , and if any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements. The Company does not assume any duty or obligation (and does not undertake) to update or supplement any forward-looking statements.
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https://www.linkedin.com/company/corescientific/ https://twitter.com/core_scientific
___________________________ 1 Represents total cumulative revenue over all 12-year contract periods, before capex credits provided to CoreWeave as compensation for Core Scientific’s share of infrastructure build out costs, capped at $1.5 million per MW 2 500 MW of infrastructure for HPC hosting represents 700 MW of gross infrastructure
View source version on businesswire.com : https://www.businesswire.com/news/home/20240806345985/en/
Investors: [email protected]
Media: [email protected]
Source: Core Scientific, Inc.
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March 15, 2023 Beginner. Learn about options exercise and options assignment before taking a position, not afterward. This guide can help you navigate the dynamics of options expiration. So your trading account has gotten options approval, and you recently made that first trade—say, a long call in XYZ with a strike price of $105.
Managing an options trade is quite different from that of a stock trade. Essentially, there are 4 things you can do if you own options: hold them, exercise them, roll the contract, or let them expire. If you sell options, you can also be assigned. If you are an active investor trading options with some percentage of your overall investment ...
The short answer is that the process is random. For example, if there are 5,000 traders who are long a call option and 5,000 traders who are short that call option, an account with the short option will be randomly assigned the exercise notice. The random process ensures that the option assignment system is fair.
However in this example, the premium is $8.00 - therefore, it is more advantageous to close the option and collect $8.00/ share rather than exercising and collecting $5.00/share. Normally, on the day of contract expiration the option will be worth only its in-the-money value. Information not provided by the Options Industry Council.
An option assignment represents the seller's obligation to fulfill the terms of the contract by either selling or buying the underlying security at the exercise price. This obligation is triggered when the buyer of an option contract exercises their right to buy or sell the underlying security. To ensure fairness in the distribution of American ...
As an option buyer, you have the right to exercise at any time. When an option contract is exercised, the owner of the option invokes the right to buy or sell stock. Options holders have the right to exercise their option any time before expiration. Exercising an option is the process of buying or selling shares at the option's strike price.
When your stock options vest on January 1, you decide to exercise your shares. The stock price is $50. Your stock options cost $1,000 (100 share options x $10 grant price). You pay the stock option cost ($1,000) to your employer and receive the 100 shares in your brokerage account. On June 1, the stock price is $70.
Options assignment is a process in options trading that involves fulfilling the obligations of an options contract. ... If the long option holder decides not to exercise their options, they can ...
Short put assignment: The option seller must buy shares of the underlying stock at the strike price. For traders with long options positions, it's possible to choose to exercise the option, buying or selling according to the contract before it expires. With a long call exercise, shares of the underlying stock are bought at the strike price ...
Exercise means to put into effect the right specified in a contract. In options trading, the option holder has the right, but not the obligation, to buy or sell the underlying instrument at a ...
Option buyers have the right to exercise an option at any time. Option sellers are obligated to accept assignment if the buyer exercises the option. Option assignment is random and cannot be refused. Options can be assigned until 30 minutes after the market closes (4:30 pm EST). An option must be closed before the end of the market day to avoid ...
Once the holder decides to exercise the option, the option is said to be "assigned." If a trader sells options, he must be aware of the assignment process and the risks it entails.
The exercise and assignment process is automated and the seller, who is selected at random from the available pool of investors holding the short options positions, is informed when the ...
An option assignment represents the seller's obligation to fulfill the terms of the contract by either selling or buying the underlying security at the exercise price. This obligation is ...
Put Option Assignment: Assignment on a peddled put option necessitates the trader to buy the shares at the strike price. If this price overshadows the market rate, losses loom. For the Option Buyer: Call Option Play: Exercising a call lets the buyer snap up shares at the strike price.
After you exercise an option, you'll get an in-app confirmation that your option was exercised and that the associated shares are pending. ... For more details, check out Navigating exercise & assignment. Check out Basic options strategies (Level 2) and Advanced options strategies (Level 3) to learn more about calls, puts, and multi-leg ...
An option buyer has the right to exercise an options contract. An options seller is obligated to accept assignment from an exercised options contract. Exercising options. An options holder has the right to exercise their stock option at the option's strike price. Options buyers are the only party that can exercise an options contract.
This would start the options assignment process. Exercise the option early: The last possibility would be to exercise the option before its expiration date. This, however, can only be done if the option is an American-style option. This would, once again, lead to an option assignment. So as an option seller, you only have to worry about the ...
Early exercise happens when the owner of a call or put invokes his or her contractual rights before expiration. Asa result, an option seller will be assigned, shares of stock will change hands, and the result is not always pretty for the seller. (It's important to note that when talking about early exercise and assignment, we're referring ...
Assignment. The holder of an American-style option contract can exercise the option at any time before expiration. Therefore, an option writer may be assigned an exercise notice on a short option position at any time before expiration. If an option writer is short an option that expires in-the-money, they should expect assignment on that ...
The Takeaway. Option assignment happens to writers of contracts when the owner of puts or calls elects to exercise their right. Options sellers are then required to purchase or deliver shares to the individual exercising. The OCC randomly selects sellers through the option assignment process.
An assignment represents the seller of an option's obligation to fulfill the terms of the contract by either selling or purchasing the underlying security at the exercise price. If you sell an option and get assigned, you have to fulfill the transaction outlined in the option. You can only get assigned if you sell options, not if you buy them ...
Understanding assignment risk in Level 3 and 4 options strategies. With all options strategies that contain a short option position, an investor or trader needs to keep in mind the consequences of having that option assigned, either at expiration or early (i.e., prior to expiration). Remember that, in principle, with American-style options a ...
Vedanta Ltd. said on Friday that it plans to exercise the oversubscription option in its current offer for sale of Hindustan Zinc Ltd, which will include an additional 1.21 crore equity shares. That represents 0.29% of the company's total issued and paid-up equity share capital, supplementing the initial base offer of 5.14 crore equity shares ...
Olenick suggests picking a weight for each exercise where, on a scale from one to 10, your effort level is a five or six. You can use resistance bands , dumbbells, machines at the gym or your own ...
Core Scientific, Inc., a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced that CoreWeave, the AI Hyperscaler, has exercised its option to ...
Bytyci I, Bajraktari G, Fabiani I, Lindqvist P, Poniku A, Pugliese NR, Dini FL, Henein MY. Left atrial compliance index predicts exercise capacity in patients with heart failure and preserved ejection fraction irrespective of right ventricular dysfunction. Echocardiogr. 2019;36:1045-1053. doi: 10.1111/echo.14377