en.wikipedia.org/wiki/Expiration_(options)

This statement appears to describe the pre-2015 rule for standard monthly U.S. equity options, but it is no longer correct.

Current OCC product specifications say: "Monthly options expire on the third Friday of the expiration month." That directly contradicts the article's claim that expiration is "always the Saturday that follows the third Friday of the month."

Cboe also published a regulatory circular explaining the rule change: the expiration date for standard monthly options was moved from the Saturday following the third Friday to the third Friday of the month, with the cutover applying to standard monthly options expiring on or after February 1, 2015.

So the article is presenting an old convention as if it were still current.

This statement treats automatic exercise as if it always produces a net cash credit/debit between long and short holders. That is not generally correct.

OCC's current product specifications distinguish between different settlement methods:

• For equity options, OCC states that exercise or assignment "results in acquisition or delivery of the underlying shares" and that exercise notices result in delivery of the underlying stock on the next business day.
• For index options, by contrast, OCC states that the options "settle for cash" and defines the exercise settlement price as the dollar difference between the index settlement value and the strike price.

So cash credit/debit is true for cash-settled products like many index options, but it is not a general rule for all options with automatic exercise. For many stock and ETF options, automatic exercise leads to share delivery/assignment instead.