I'm not sure how the trade is settled.
Do I have to sell it on or before the expiry?
Or do I leave it just like that - do nothing and after expiry, the amount will be debt to my account automatically?
Example:
I bought a Jan-25 call option (CE) for xyz stock on 15 Jan, 2012 for Rs. 6 (1 lot = 1000).
On date of expiry i.e., Jan 25, 2012 the Jan-25 CE for xyz stock traded at Rs.9
what happens? Do I login to my trading a/c and sell it manually or what?