Physical settlement of ITM

A strangle or straddle is created by shorting both a put and a call. At expiry, one of the contracts becomes ITM.

Referring to this post doesn’t explicitly mention what if the give-and-take delivery is equal in Options.

So in the above scenario, do I have to physically settle the ITM contract?

When one of the stock options contracts become ITM at the expiry, it will be physically settled.

ITM Short Put + OTM Short Call = Take Delivery
ITM Short Call + OTM Short Put = Give delivery

When both contracts become ITM at the expiry, only then both will be netted off with each other.

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