Just a quick question that has been bugging me. What happens to an option that is in the money on expiration day. Example, I buy a 26 call option for $1, for a stock that is trading at $25. On expiration day, the stock is at $28 and the call option is valued at say $2. Do I have to physically close (sell) the option myself or just let it expire, where I then receive the $2? Probably a pretty simple question, but one that need answered. I am usually a seller of options so this isn't really an issue for me unless I'm in the poo. Thanks.