Assignment is random, and then only when someone decides to exercise early or the contract closes ITM after 4:30 Fridays.
No because there is still lots of time value still left. Example: I’m still holding -c805s that close in 3.5 hrs and they are valued at $5-$6/sh even though the SP is almost exactly $805. Normally, nobody will exercise an option with that much time value left.
Spend lots and lots of time reading this ENTIRE thread, but especially watch the beginning videos. It takes weeks to learn the basics, months to get dangerous, and years to become an expert.
Perhaps, if you’re willing to accept assignment at that strike and interested in learning options. Selling cash-secured puts is a lower risk way to learn options. Pick a ridiculously low strike, say $600-$700 for next Friday, and sell one today and watch what happens. Get paid to learn as
@adiggs says.
Good! Rolling is very important to learn. If selling 10x CSPs, you should be able to eventually safely clear $5/sh/wk with judicious strike choices AND, more importantly, timing those sales when the SP is down. Don’t chase the ticker. Wait for the mandatory morning dip (MMD), or the Thursday/Friday fade. Thursday is often called “Roll Thursday” because time values are much lower for the current week and much higher for the next week.