Responsibility for option exercise Clause Samples

Responsibility for option exercise. You bear full responsibility for taking action to exercise an option contract, provided, however, that with respect to certain expiring options, we are authorized to permit exercise by exception to take place automatically pursuant to the rules of the OCC as in effect from time to time, unless you specifically advise us to the contrary. This procedure affects options which are in-the-money by a predetermined amount as set forth in the rules of the OCC. Additional information regarding this procedure is available at your request.