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Amazing…Logged on to my brokerage account as tomorrow is options expiry and was greeted with the following message:

Options Expiration
The last day to trade equity option contracts expiring on Saturday, May 17th is Friday, May 16th. If you do not have sufficient funds/buying power to cover potential exercises or assignments, please deposit funds or close out your position before close of market on Friday, May 16th. Please be aware that TD AMERITRADE reserves the right to close out any option positions at any time on the final trading day prior to expiration that would pose risk if exercised or assigned. Any equity option that is in-the-money by $0.05 or more at expiration will be automatically exercised. Please note that effective June 21st, this threshold will be lowered to $0.01.

I remember the good old days when options in-the-money by $0.75 would be exercised and now it’s dwindled down to a penny!

I guess this is progress!