Buenos Aires Argentina
Experience: Advanced
Platform: NT, MT4, Sierra
Trading: S&P, Bonds, Crude, FX
Posts: 250 since Sep 2014
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It depends on what instructions you have setup and left with your broker for exercise and delivery and rollovers, i.e. if they are instructed to automatically close the spread for you or exercise the assignment on your behalf.
It also depends on if the owner of your short option decides to assign the contract before expiry.
They should offset assuming no early assignment, but I would double check with the broker as to how your instructions are currently setup since I don't know which broker, platform, market (European or American options rules) you are trading.
For reference: here is how they are handled at Interactive Brokers: https://ibkb.interactivebrokers.com/node/190
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