[macdfx]

Originally Posted by forex_broker »

Good thread, something all Futures traders should be aware of. Holding an E-mini contract past expiration is bad enough but holding a physically delivered contract such as Crude or Gold can be disastrous.

Probably why many brokers will simply close out and flatten your position on first notice day. Transact/Infinity is one such....

[Fat Tails]

If you have a short position, the danger is not only holding past expiration, but also holding past first notice day, because you may be assigned for physical delivery prior to expiration, depending on the contract details. Often the first notice day is prior to expiry.

So you need to roll prior to expiry and first notice day - whatever comes first!

Originally Posted by forex_broker »

Holding an E-mini contract past expiration is bad enough but holding a physically delivered contract such as Crude or Gold can be disastrous.

[forex_broker]

Good point! I would recommend rolling over about a week prior to expiration if you want to keep the position, usually liquidity shifts to the next expiration several days before the contract expires or first notice anyway.

[macdfx]

Far as I know, first notice day should always precede the delivery date. Unless the rules have changed over the years...

[merry]

Originally Posted by Soultrader »

This reference applies to most futures traded on the Chicago Mercantile Exchange and the Chicago Board of Trade.

• Rollover is 8 days before contract expiration.
• Rollover is usually on the second Thursday of every month. However, if the first day of the month is a Friday, the rollver day will be the first Thursday of the month.
• Expiration day is the 3rd Friday of the following months: March, June, September, and December.
• The contracy symbol associated with the expiration months are: March = H, June = M, September = U, December = Z. For example, the emini S&P symbol is the ES. So the symbol the emini S&P December contract would be ESZ06. (06 being the year)
• Liquidity of the contract will shift on the rollover date. Make sure you trade the correct contract. You should be able to notice by the lack of liquidity in your underlying instrument.
• If you are swing or position trading several days before rollver, make sure to use the newer contract instead.

Thank you for reminding.

[khamore1]

Here is a short Cliché to remind you the contract symbol’s month
H ey, M an, U , Z ipped

[Tams]

it's that time again.... remember all the witches...