Dear Friends,
Please read some good option starter book and then trade in Options,
like,
Bible of Option
Option Basics
Option Doctor
etc.
Its very dangerous to trade options without basics.
European options can not exercise before expiry and American could be,
exercise mean after market shutdown you can put it to exercise if your broker allow you to do so (all good broker do so...) mean that if any buyer/seller in queue, they will sell at fair value of In the money (ITM) options
as exercises will not pay you TIME VALUE...............MIND IT
Happy Trading Ahead,
Darshan