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Here is my past performance since I started to write this blog in 2012. I don't remember why I did poorly in 2014. But let bygon... -
I've been wiped out today... do you believe me?
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I started this week with short positions in my hand. They were in the money on Monday. Monday night, I bought couple ES at 1423 to hedge my ...
http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_contract_specifications.html
ReplyDeleteToday was the last day to trade ESU12. Hope you didn't get stuck holding positions!
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ReplyDeleteYou forgot about rollover week? You will like my latest post as it talks about rollover in detail. =)
ReplyDeleteFriday was the last day for trading September ES and closes regular time, 15 minutes after the cash close. With IB, since there is no delivery of what ES represents, they will, or should automatically close out your Sept ES contract.
Thank you guys. I knew it was Quadruple Witching on Friday. I forgot that ESU2 actually stopped trading at 6:30am PST. The calls I sold were for Sep contracts. I have Sep and Dec contracts. I assumed that they would have collected all after Sep 21 since all of the calls I sold are deep in money. But it looks like that I still have Dec contracts. That is why I've lost more than 1K(probably 2K) for the difference.
ReplyDeleteLesson learned. So I pretty much didn't make any money this week.
If futures options work like stock options, what will happen is that your sold in the money Sept calls will be converted to December contract short positions based on the the strike price of the calls, so you should be okay and not lose anything.
ReplyDeleteIf it's correct as stated on CME that September contracts stopped trading at 6:30, it's weird since I was watching it on Friday and it had a bid/ask the whole day until it closed 15 minutes after cash close. The spread was $1.50 but I also didn't see any change in volume so there were no transactions happening, which makes me wonder why bid/ask prices where still showing.