just a QM expiry question

A

auspiv

so i found on nymex's website the expiration data for QM contracts: Trading terminates at the close of business on the fourth business day prior to the 25th calendar day of the month preceding the contract month. If the 25th calendar day of the month is a non-business day, trading shall cease on the fourth business day prior to the business day preceding the 25th calendar day.

i'd just like some clarification on this: the 4th business day prior to the 25th this month is the 19th which is friday. so, positions should be exited by 5:15 friday to avoid trouble? what would happen if i held a short qm 10-08/long 11-08 spread past expiration? or would the better question be: how could i roll this spread into next month?
 
The CL contract goes off the board on Monday and the QM terminates one day prior, so trading halts today (I believe at 2:30 PM EST, but you'd have to confirm that with the exchange). If you leave open a position it will be financially settled against today's settlement price in the CL contract. You should be able to spread out of your position and put on a new spread, or you could leg out of it as well (with increased risk to you). Hope this helps...
 
Quote from Gyrene Dertra:

The CL contract goes off the board on Monday and the QM terminates one day prior, so trading halts today
More...

by one day prior to monday do you mean friday?
 
You must log in or register to reply here.
Back
Top