What happens to an option that expires today?
What Nyria does in the last 30 minutes before the close for an option expiring that day: the bot log row and notification for each outcome.
An option that is still open at the close does not disappear. At a broker, a contract that finishes in the money is exercised or assigned: a long call becomes shares, a long put becomes short shares, and a short leg gets the mirror image. None of that is a Nyria trade, so the position Nyria tracks ends and the one you then hold shows only at the broker.
Nyria watches for that every trading day. Starting 30 minutes before the session close, it looks at every open option position whose contract expires that day and has no exit on the way. The window follows the day's closing time, so it opens earlier on a half day. For each position it writes one row on the bot's Logs tab and sends one notification to the account's owner. After the close, nothing more is attempted.
What you see
The row names the contract in the shorthand every trade notification uses, like SPY 770C or NVDA 217.5P. Match yours to one of these.
| Bot log row | What happened | What to do |
|---|---|---|
SPY 770C expires today and is still open. Close it at Tradier before 4 PM ET. | Nyria placed nothing | Close it at the broker before the close |
SPY 770C expires today and is still open. Nyria Paper settles it at its intrinsic value after the close. | Nothing is placed on a paper account | Nothing. See how Nyria Paper settles an expiry |
SPY 770C expires today and couldn't be closed. Tradier is disconnected. | The broker connection is not usable, so Nyria could not act | Reconnect on Integrations and close it, or close it at the broker |
SPY 770C expires today. Closing order placed, not filled yet. | Nyria placed a market close and the broker has not confirmed a fill | Watch the order at the broker. If it does not fill, close it there |
SPY 770C closed before today's expiry. | The close filled | Nothing |
SPY 770C expires today and couldn't be closed. Tradier didn't confirm the close. | Nyria placed a close and the broker refused it or never answered. The wording after couldn't be closed. is the broker's reason | Check the position at the broker and close it there |
Nyria does not place the closing order on every account. If your row says the position is still open, nothing was sent, and closing it is yours to do.
The notifications
Each row has a matching notification. The title names the contract, and the body says what is at stake.
| Title | Body |
|---|---|
| Can't close SPY 770C before expiry | Tradier is disconnected, so reconnect it or close it there before 4 PM ET. If it finishes in the money, it's exercised or assigned. |
| Closing SPY 770C before expiry | Nyria placed a closing order ahead of the 4 PM ET expiry, and Tradier hasn't confirmed a fill. If the order doesn't fill and the option finishes in the money, it's exercised or assigned. |
| Closed SPY 770C before expiry | Nyria closed it ahead of the 4 PM ET expiry. |
| Couldn't close SPY 770C before expiry | The broker's reason, then: so check the position at Tradier before 4 PM ET. If it finishes in the money, it's exercised or assigned. |
A closed or closing position is filed under Trades. A position Nyria could not close is filed under Brokers. Each reaches your email only if that category's email is on; see notifications. One notification per position per day: a second pass inside the window does not repeat it.
The strategy's owner gets one summary for the strategy, titled <Strategy name>: expiring legs closed when every leg closed, or <Strategy name>: 2 expiring legs not closed. Its body names the contracts and counts the outcomes, like 1 closed, 1 with a disconnected broker.
What Nyria Paper does
A Nyria Paper account has no exercise. The bot log says the position is still open and that Nyria Paper settles it at its intrinsic value after the close. The settlement shows in the bot's trades as Expiry settlement (simulated), and it can come days after the expiration date, once two market-data sources agree on the underlying's close. Nyria Paper has the full rule.
Keeping it from happening
- Send the strategy's exit alert before the last half hour. An exit that arrives earlier closes the position the normal way, and the check finds nothing to do.
- A strategy with a 0 DTE range opens contracts that expire the same day. If that is not intended, raise the minimum under Days to expiry on the strategy.
- A paused bot ignores exit alerts, so an expiring contract on a paused bot stays open until you close it at the broker. See closing a position.
- Keep the broker connected. Charles Schwab ends each sign-in after 7 days, and a disconnected account cannot be closed by Nyria.
FAQ
Does this run for stocks or crypto?
No. Only option positions have an expiration, so only they are checked.
Why did the row come at a different time than yesterday?
The window opens 30 minutes before that day's close. On a half day the market closes at 1 PM ET, so the window opens at 12:30 PM ET.
Will Nyria close a position the row says is still open?
No. The row is the whole of what Nyria does for that position. Close it at the broker before the close, or hold it and expect exercise or assignment if it finishes in the money.
Related
- Closing a position: every way to get flat
- Why was my exit skipped?: an exit that closed nothing
- Nyria Paper: how an expiry is settled on paper
- Risk disclosure: what an option held to expiry can become
- Known limitations: assignment Nyria does not see
Why was my exit skipped?
What a Skipped exit row means on a bot or strategy log: no position, a rejected or canceled entry, a wrong side, or a failed exit left open.
Frequently asked questions
Answers on which brokers Nyria connects, what it costs, how alerts from TradingView, Discord and Telegram become orders, selling strategies, and safety.