The short answer is that options rarely get exercised before expiration. To fully understand why this happens we need to first understand what the terms 'exercise' and 'assignment' mean in relation to options. Then we will work through an example to evaluate when a call or put option may be exercised early.

Do options get exercised automatically?

Option Auto-Exercise Rules

Stock options that are in-the-money at the time of expiration will be automatically exercised. ... For example, if you own a call option with a strike price of $50, and the stock closes at $50.01 on the day your call expires, we will exercise your option.

Do options get exercised before expiration?

Early exercise is only possible with American-style option contracts, which the holder may exercise at any time up to expiration. ... The more time there is before expiration, the greater the time value that remains in the option. Exercising that option results in an automatic loss of that time value.