All of these apply to an option exercise notice EXCEPT:

By Peter Cherewyk AAA
A:

A. It is made through the OCC.



B. It must be executed by 4:30 p.m. CT the day before the expiration date.



C. It is not executed if the option expires.



D. It is determined on a random or FIFO basis.




Correct answer: D



This is true of assignment, not exercise notice.



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