First notice day question

[leslloyd]

Hi
I've got a small postion (2) on Sept CC with IB and received a msg today,regarding rolling over my positions or closing them,by the close of session or they may be liquidated.
Is this one of those msg's that i can safely ignore for now or do i need to act pronto or else!
ps my acc is near 100k credit.
regards
colin.

 

[nazzdack]

Quote from leslloyd:
----Sept CC....
----IB and received a msg today,regarding rolling over my positions or closing them,by the close of session or they may be liquidated.
----act pronto or else!

1) Act now before they do it for you.
2) CC?..... do you mean cocoa? If so, that's a market where you do not want to be assigned delivery and then have to go about redelivering the commodity and dealing with the fees and aggravation of the cash market.

 

[leslloyd]

Thanks nazz,i rolled up to Dec,thankfully just before the bounce upwards.
It's the first time i've been caught with this(Ag futures),so i'd better look up IB's explanation now the pressures off.I usually only trade options so will brush up.
regards
colin.

 

[TraDaToR]

First notice is tomorrow:https://www.theice.com/productguide/ExpiryDates.shtml?specId=7

Always keep the first notice in mind( or last trading day for energy ) for physical settlement commodities. Delivery never happened to me but could have one time. IB's policy is fine to avoid it when you have multiple positions.