Help newbie in understanding Options (Using IB)

[JSOP]

Thanks caroy!

Another newbie IB sub-question, is it possible to mark an option to be exercised on its date using the IB web interface? I ask that as I currently do not own any.

Or to exercise the option, I need access to TradeWorkstation (market data subscription)?

To admin: I ask here as IB forum is not of the best shape and this forum looks great, I will try not to ask more newbie questions like this here.

You need the market data subscription just to see the price of the option and the underlying stock NOT to exercise an option. The exercise option functionality comes with TWS. And mind you, if you do not want to exercise the option, you can always sell the option or instruct IB NOT to exercise the option, that you can do in the "option exercise" functionality in TWS as well provided you do it by latest before 4:15 PM EST/EDT on the expiration date.

You are never forced to exercise the option ever, just remember that. An option is just what it sounds like. An option pun intended.