How do I exercise my options?

To exercise a contract:
  1. Go to Options under Trade.
  2. Select Exercise.
  3. Enter the number of contracts you wish to exercise. One contract typically equals 100 shares. It is your responsibility to have sufficient buying power in your account to exercise long call options contracts, and have the stock in your account to exercise long put options contracts. Please review the TD AMERITRADE Option Exercise Policy contained in your Margin Account Handbook for more information.
  4. Enter the option contract symbol in short form (i.e., "IBMAT"). If you don't know the short form of the option symbol, click the Option Chain icon [ ] on SnapTicket™ , or click Get Option Chain from any options order entry page. You should also be able to find the option symbol on your Balance and Positions page.
  5. If you're enabled for express trading, click Place Order to submit your order. If you're not enabled for express trading, click Review Order to review the details of the order before you submit it. To revise your order before submitting it, select Change Order. To enable express trading, click the link on the review page or go directly to Profile & Preferences.
  6. To exercise an option with odd or multiple deliverables, please contact a TD AMERITRADE Trading representative.

    Please note: The submission of an exercise notice CANNOT be canceled or changed. All exercised options incur a $29.99 commission charge. We do not accept exercise instructions via e-mail.