Doubt regarding Option strategy

General
1

I have sold/sell

1 OTM CE ( CALL)
1 OTM PE (PUT)
1 ITM PE (PUT)

IF the the stock stays in the range that has been made because of this strategy till expiry do i need to manually exit from all 3 before 3:30 or can i let them expire without exiting (will i suffer any penalty/loss in the later’s case)?

3

If any of your strike price gets ITM, then you must exit the position before expiry, otherwise you will have to take the physical delivery!

4

Thank you