How to exercise option...

Hey guys, I have a stupid question. I'm using Investopedia's stock market simulator to gain some trading experience. How do I exercise an option after I've bought it? For example, I am holding an option in my portfolio, and all I see is "sell". How do I exercise the option and buy the underlying share for X price?

Thanks

6 Comments
 

Why do you need to in the simulator?

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

Sorry I don't really understand this question...I'm just wondering how I would actually use the option. Im just using the simulator to learn and try different option strategies I learned from my PM class

 

Like what kind of strat are you doing that you'd need to early exercise.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

Can't I exercise anytime before the expiration date? I learned about protective puts, covered calls and straddles and I'd like to try these strategies on the simulator just to experiment. How do I exercise..?

 

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Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock

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