What happens to the futures contract when the Last Trading Day has passed and we forgot to close the position?
If that happens in real-life, we get the contract delivered to us. At C2, does the futures contract get automatically closed?
rgds, Pal
Yes, the contract will get automatically closed on expiration day if you do not exit the position by then. To play it safe, close out before expiration day.
I intend (eventually) to add a warning (probably by email) when contracts approach expiration), but for now, you are responsible for being aware of it.
For what it is worth, Interactive Brokers handles things exactly the same way – you can’t take delivery, and instead they will close you at the market price.
MK
