Table describes scenarios where the underlying stock price is higher than the strike price or lower than the strike price Column headers with buttons are sortable.
Expiration Scenario Underlying stock price is higher than the strike Underlying stock price is lower than the strike
Long call ITM and typically exercised OTM and typically abandoned
Short call ITM and typically assigned OTM and typically abandoned
Long put OTM and typically abandoned ITM and typically exercised
Short put OTM and typically abandoned ITM and typically assigned

Note: In the case of put options, a long-put buyer has the right to sell the underlying shares at the strike price; the put seller has an obligation to buy.