So I don't trade with commsec, and certainly Bell, who I do, don't mention anything like that, but only the other day someone on the VTX thread mentioned this as he'd been (I think) in a coma over the expiry date and didn't get a chance to (beats "dog ate my homework" excuse).
I suspect they might be talking about put/call options? But i'm not sure. My question would be where the money comes from? If they automatically do it do they close out other positions for you or you on margin all of a sudden? I'm no put/call expert but I think that's what they are talking about as if you're in the money then there would be no reason not to exercise at the due date, as you make money from it. Company options are different, converting them doesn't necessarily represent a good financial choice even if they are in the money. Convert a million poko today, for instance, and who would you sell them to without buggering the price more than the experts did?
