i am wondering if someone can please answer me some of the mechanics of getting assigned.

For instance on SPY put, 405 strike, expiration on Nov 17.

Say like tomorrow at 9:30AM SPY opens at 408.

at 10AM, SPY is 407.

at 11AM, SPY is 404. Someone decided, great i am going to early exercise my put. Would that be possible?

at noon, SPY recovers to 407.

at closing, SPY stays above 405, and closes at 406.

my questions are:

1. when consider early assignment/assignment risk, should i mainly focus on whether SPY closes above or below my strike at closing and try to manage it between 4pm and 4:15pm? (aka roll it if it closes below my strike for puts) or i will also need to consider the options being early assigned during the day if it dipped below my strike briefly (in my example, between 11AM and noon). i know there are some extrinsic value and the likelihood of being early assigned is low, but i just want to see what everyone's take is on this. i am also trading on margin so i absolutely don't want to get assigned if possible.

questions answered:

1. what is the price of assignment? it could theoretically be any price right? so even though in my example, SPY closes above my strike of 405 at 406, but because during the day, at one point, it dipped below my strike at 404 (11AM in the example), someone could have early exercised at 404? or it would only be allowed to early exercise at the closing price of the day?

per r/thatstheharshtruth - of course assignment is always your strike price. sorry for asking such a dumb question.

1. going back to my example, if assignment of 404 took place at 11AM, do i immediately get notified? (I used IBKR and TDA if that matters). i read somewhere that said assignment notification took place the next day after someone exercised their option?

per r/thatstheharshtruth - assignment happens overnight only. but you can theoretically exercise your option anytime during the day.

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trying to prepare what is going to happen tomorrow...never get assigned before and am wondering whether i should just roll it now before it gets too close to 405 or i can potentially wait to roll unless SPY closes below my strike. thank you everyone for your help.