Your options position was liquidated by Alpaca because the option was in-the-money or close to being in-the-money, and your account did not have sufficient buying power or shares to process the corresponding exercise or assignment.  Your position is typically liquidated at 3:15pm ET however in volatile markets, this may start earlier. If you would prefer to let your in-the-money options be exercised or assigned at expiration, please make sure your account has sufficient buying power or shares in order to process the purchase or sale of the underlying security. Alpaca, on a best efforts basis, will close the option out prior to the end of the trading day on expiration. You are ultimately responsible for managing your account and managing any options related risk.

For further details on option trading at Alpaca, please navigate to our documentation.

For further educational information on Options trading, please refer to:

Options trading is not suitable for all investors due to its inherent high risk, which can potentially result in significant losses. Please read Characteristics and Risks of Standardized Options before investing in options.

All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. There is no guarantee that any investment strategy will achieve its objectives. Please note that diversification does not assure a profit, or protect against loss. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.