Quote from Eliot Hosewater:
New rules go into effect this expiration.
Options in the money by five cents will be automatically exercised. If this happens to you and you don't own the stock, your broker will sell them short in your account.
You can sell the options tomorrow or instruct your broker not to exercise them.
Sorry, if you are long the call then you will buy, not sell the stock. By the time I went and checked a few things I had turned your long call into a short one.
In any case, the new .05 rule goes into efect today.