Lapsing Way Out of the Money Options For Tax Loss Harvesting

[BG2008]

Bought some options that are now way out of the money. Won't expire till Mid Jan. But would rather lapse them and take the tax loss for year end. Does anyone know what the mechanism for this is? 

[Stuart D]

That’s a good question. I’m assuming there is zero liquidity to sell them for any amount, e.g. $0.01?

[bizaro86]

Interactive Brokers has form you can fill out to sell them valueless securities for the same price as the commission. Not sure how long it takes though. I'm sure other brokers would have something similar.