Can you let a Call expire?

[Triplethought]

Stupid question. When I've bought Puts and received cash I generally let them expire on the back end and pocket the cash. In some cases, they've expired below market value and the shares have been "put" to my account.

But I've never let a call expire. I'm looking at the 9/17/21 HIMX $15 Call. Assuming it continues to run up in the next month and goes into the green what would happen if I did nothing and just waited for expiration?

Or should you always sell the call before expiration?

Thanks.

[Eric]

It's up to you brokerage but they probably have a policy of either exercising or selling the call for you an hour before the market closes if the call is a penny a share in the money.

[buzz]

About a decade ago when I was first getting into options I let an in the money call expire expecting that I would receive cash (or maybe it was shares) when the call expired. I got zero. I called the brokerage and they said sorry, you have to close/sell the option. That was with Schwab. I am still using Schwab but will not make that mistake again. They may have changed their policy since then but I will always sell the in the money options and not let them expire. Your brokerage may be different. I would confirm with them before making a mistake.