Newbie Question UVXY Exercising

[anandmakhija]

Hi,

I have 4 UVXY Aug 16 2019 45 Put options which are currently is in the money. However, it is down about $3500 since I last bought and is the only UVXY leg which is open currently. My question is what happens if this option gets exercised? Can you please help provide some guidance.

Thanks

Anand

[Kim]

When exercising a call option, the owner of the option purchases the underlying shares (or commodities, fixed interest securities, etc.) at the strike price from the option seller, while for a put option, the owner of the option sells the underlying to the option seller, again at the strike price.

https://en.wikipedia.org/wiki/Exercise_(options)

Options can be automatically exercised at expiration only.