There will be no automatic stop loss when the premium of the option is lost. Unless the seller chooses to close the position, some costs can be recovered. However, the cost of closing the position should be considered. If the handling fee of closing the position is greater than the value of the premium at that time, it is impossible to close the position.

The option premium will get closer and closer with the expiration date. If the premium has not appreciated but depreciated, and there is no stop loss to close the position, then the exchange will consider it as an automatic waiver, and your premium will be zero.