11 replies to this topic

[swingtrader]

A newbie question: How do I roll over my future contract at IB? The same ticker, YM, for example, the JUNE contract and SEPT contract are selling at different price. How that going to affect my profit/loss? Thanks so much!

[eminimee]

It won't effect anything...but it's not automatic...if you are trading June...you better switch before Friday ...close that position and open it on Sept contract. ES U7 is Sept.

[Russ]

I talked with IB about this recently, they said you must sell your existing contract and buy the other one. There is no such thing as automatic roll over is what they said. I think if you leave the contract until expiration then any money it has made or lost is added or subtracted to your account. That sound about right fellas?

It won't effect anything...but it's not automatic...if you are trading June...you better switch before Friday ...close that position and open it on Sept contract. ES U7 is Sept.

What's wrong with doing it on Friday?

[NAV]

[/quote] What's wrong with doing it on Friday? [/quote] Russ, The volume on June is pathetic. It's about 10% of September's volume. Unless, you want bad fills, you would be better switching to Sep ASAP (if you still haven't)

[Russ]

Russ,

The volume on June is pathetic. It's about 10% of September's volume. Unless, you want bad fills, you would be better switching to Sep ASAP (if you still haven't)

Well I do have 5 es and 1 biggie, I think its going to rally up a bit more so am waiting.

[lscharpen]

I talked with IB about this recently, they said you must sell your existing contract and buy the other one. There is no such thing as automatic roll over is what they said. I think if you leave the contract until expiration then any money it has made or lost is added or subtracted to your account. That sound about right fellas?

It won't effect anything...but it's not automatic...if you are trading June...you better switch before Friday ...close that position and open it on Sept contract. ES U7 is Sept.

What's wrong with doing it on Friday?

What's wrong with Friday for the June S&P contract is that the contract is last traded on Thursday 6/14 at 3:15 pm Central time.

Lee Scharpen

[bnick]

I talked with IB about this recently, they said you must sell your existing contract and buy the other one. There is no such thing as automatic roll over is what they said. I think if you leave the contract until expiration then any money it has made or lost is added or subtracted to your account. That sound about right fellas?

It won't effect anything...but it's not automatic...if you are trading June...you better switch before Friday ...close that position and open it on Sept contract. ES U7 is Sept.

What's wrong with doing it on Friday?

What's wrong with Friday for the June S&P contract is that the contract is last traded on Thursday 6/14 at 3:15 pm Central time.

Lee Scharpen

You should try a Combo order: Buy Sept, Sell June. Although this is a typical spread order, it will leave you net long Sept. That way, all trades are made contemporaneously.

[Russ]

You should try a Combo order: Buy Sept, Sell June. Although this is a typical spread order, it will leave you net long Sept. That way, all trades are made contemporaneously

You mean go short June?

What's wrong with Friday for the June S&P contract is that the contract is last traded on Thursday 6/14 at 3:15 pm Central time.

Lee Scharpen

If you hold it until expiration whatever profit or loss is either credited or debited to your account at the close on Friday though right? I've never actually held anything until expiration.

Russ

Edited by Russ, 13 June 2007 - 01:45 PM.

[NAV]

You should try a Combo order: Buy Sept, Sell June. Although this is a typical spread order, it will leave you net long Sept. That way, all trades are made contemporaneously

You mean go short June?

What's wrong with Friday for the June S&P contract is that the contract is last traded on Thursday 6/14 at 3:15 pm Central time.

Lee Scharpen

If you hold it until expiration whatever profit or loss is either credited or debited to your account at the close on Friday though right? I've never actually held anything until expiration.

Russ

For a cash settled contract like the S&P, that's right.

[Russ]

You should try a Combo order: Buy Sept, Sell June. Although this is a typical spread order, it will leave you net long Sept. That way, all trades are made contemporaneously

You mean go short June?

What's wrong with Friday for the June S&P contract is that the contract is last traded on Thursday 6/14 at 3:15 pm Central time.

Lee Scharpen

If you hold it until expiration whatever profit or loss is either credited or debited to your account at the close on Friday though right? I've never actually held anything until expiration.

Russ

For a cash settled contract like the S&P, that's right.

Thanks Nav. I don't understand the hedge strategy mentioned above, why would you want to (sell) short? June when it is about to expire?