I cant take a long position in bonds this week because IB has some problem with "physical delivery". What I dont understand is the contract specs say that trading stops 7 business days before the last business day of the contract month. This is August!! How come the September contract is a problem already. I hope Def or someone can explain to me whats going on. Other people I trade with dont have this problem with other brokers. Apparently its an IB idiosyncrasy.
Cant buy bonds with IB
- Thread starter easyrider
- Start date
Yeap
It is something very strange. Why just bond?
It is something very strange. Why just bond?
I know that the trading month for bonds (and maybe T-notes -- ZN) rolls over earlier than index futures, don't know the exact dates, but it's at least 2 weeks.
see this regarding delivery (paragraph 1809.1)
http://www.cbot.com/cbot/docs/19586.pdf
see this regarding delivery (paragraph 1809.1)
http://www.cbot.com/cbot/docs/19586.pdf
Check the bids and offers for Dec. if it's a few tics wide, just do the Dec.
Why couldn't you or IB just sell the calendar spread a couple of days before first notice - which would negate the possibilty of physical delivery and automatically roll you into a long position for Dec. outright?
PS - in alot of ways, IB has a point. Having speculators getting caught into first notice is a royal pain.
Why couldn't you or IB just sell the calendar spread a couple of days before first notice - which would negate the possibilty of physical delivery and automatically roll you into a long position for Dec. outright?
PS - in alot of ways, IB has a point. Having speculators getting caught into first notice is a royal pain.
If you are scalping 10 contracts, i don't think the Dec future is attractive. Best is not trade at all. Just wait for next week.
Agreed, the dec futures are not liquid at all. Very frustrating IB did that. I think i have to get a backup broker for real instead of just talking about it.
By the way, IB let you trade bonds this morning for at least an hour after the open. Their "brilliant" policy went into force in the middle of the trading day without warning.
By the way, IB let you trade bonds this morning for at least an hour after the open. Their "brilliant" policy went into force in the middle of the trading day without warning.
Really, it happen to me yesterday, so I stop trading bond today totally. You can short/sell, but i am not sure what if you short, can you cover you short or not.
I just totally skip trading it today.
Does this mean also, you cannot trade currencies future,
indices future in the next few days...
I just totally skip trading it today.
Does this mean also, you cannot trade currencies future,
indices future in the next few days...