So I have a few June 17, 2022 QQQ 300 puts...

[newwurldmn]

So, my 11 QQQ puts with a 300 strike price auto exercised yesterday and I am now short 1,100 QQQ shares. That's generally OK, as I bought the puts to offset (a little bit) the long TQQQs I had.

My question is this: I don't want my account to be materially any more negative/positive after the exercise of the puts than before. My thinking is that it won't be - since the puts were "in the money" prior to exercise, they were moving more/less like the QQQ itself would. Does that make sense?

Thanks!

given the qqq’s are only 6percent from the money, you are much more short qqq’s now than you were a few weeks ago.

 

[nooby_mcnoob]

I bought these way back when. Unless the market turns up soon they might expire in the money. Do I need to formally exercise these to collect? Or if I don't will they just settle in cash?

If I need to exercise them, what the heck do I do? Just call my broker and say go ahead and exercise them? Never done such a thing before LOL. Can I wait until the 17th or do I need to do it on the 16th or before?

Thanks!

If you do not have the money to exercise, your broker will helpfully sell them for you.