Automated Liquidation for Gold/Silver

N

nitrene

Why does IB want to liquidate my Dec Gold & Silver micro contracts? According to the contract specs they don't expire until late December not late November:

Symbol Cutoff Date Liquidation Date
MGC (E-Micro Gold ) 20201127 20201126
SI (NYMEX Silver Index) 20201127 20201126

Seems strange they want to liquidate a month in advance.
 
nitrene said:
Symbol Cutoff Date Liquidation Date
MGC (E-Micro Gold ) 20201127 20201126
SI (NYMEX Silver Index) 20201127 20201126

Seems strange they want to liquidate a month in advance.
More...
I didn't check on IB, but it seems the liquidation date is 2020 11 26 or 20201126. Last trade should be the day before.
 
nitrene said:
Why does IB want to liquidate my Dec Gold & Silver micro contracts? According to the contract specs they don't expire until late December not late November:

Symbol Cutoff Date Liquidation Date
MGC (E-Micro Gold ) 20201127 20201126
SI (NYMEX Silver Index) 20201127 20201126

Seems strange they want to liquidate a month in advance.
More...

Because the liquidity starts flowing into the next trading month weeks before the expiry on GC, so they don't want you to get caught in an illiquid instrument? Just follow the volume. Hell, might as well roll yer MGC into Feb 21 now. WHy wait until they liquidate you and charge you for it? Silver I am not sure, do not follow it's rolls.
 
nitrene said:
Why does IB want to liquidate my Dec Gold & Silver micro contracts? According to the contract specs they don't expire until late December not late November:

Symbol Cutoff Date Liquidation Date
MGC (E-Micro Gold ) 20201127 20201126
SI (NYMEX Silver Index) 20201127 20201126

Seems strange they want to liquidate a month in advance.
More...
Because these are instruments with physical delivery and IB does not allow you to take physical delivery.
 
Thanks for all the replies. I usually trade GLD & SLV so I didn't realize the delivery aspect of it. It makes sense now.
 
nitrene said:
Why does IB want to liquidate my Dec Gold & Silver micro contracts? According to the contract specs they don't expire until late December not late November:

Symbol Cutoff Date Liquidation Date
MGC (E-Micro Gold ) 20201127 20201126
SI (NYMEX Silver Index) 20201127 20201126

Seems strange they want to liquidate a month in advance.
More...

What's their liquidation policy, how early before expiry?
 
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