Saxo Bank offers two types of Contract Options as defined by the exchange.
American style Options can be exercised online at any time before the expiry, while European style Options can only be auto-exercised at expiry.
When in-the-money, an American style Contract Options position can be exercised into a specific Futures contract position, which is visible on the Account Summary until expiration.
Once the Contract Option expires, the position stays visible on the Account Summary until the settlement day (instrument-specific).
A European style Option, when in-the-money, is only exercised at expiry and is cash settled.