Sunday, September 23, 2012
Weekly summary(1443.5--1462)
I truly learned my lesson. Good thing is that it is only less than 2K cost. I still have Dec contracts and will sell at the opening. I deposited 4K into my account.
updated: I sold most of ES at 1451 at 3:03pm. I'm pretty much in the cash position now except 1 es and some KBH stock that I bought on Friday. I will do some planning for the next week!
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So what exactly happens when you have a futures option short call position that isn't closed by expiration? Does it convert to ES short contracts, or are they just closed out at the closing values at 6:30am?
ReplyDeleteThe position was closed at very high price at 6:30am. No, it didn't convert to ES shorts contracts.
ReplyDeleteWhat I thought was the same as yours. I thought they would have collected my positions at the same time and I was wrong.
My account was 84K (almost 85K) most of the time before 7 or 8 am on Friday when I checked. Good thing is that we didn't see the gap down when the future market opened today so that I was able to escape.
ReplyDeleteThe idea situation will be that I've sold all ES at Friday's opening if I knew it better. Oh, well. I will make it back :-)
I see- so that's how it works - good to know. It's quite different from how expiring stock options are handled.
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