Does anybody know how Tradestation handle open positions that need to be rolledover? If I have an open futures position and I forget to rollover in time, how does tradestation handle that?
Tradestation Rollover
- Thread starter BlueFightingCat
- Start date
It's just a theoretical question at this point. I remember when I used to use Interactive Brokers they would not all delivery and would close out a position before it would expire. I wonder whether Tradestation would do the same thing.
Long or short? Cash or physical? Yeah, they are not going to let you take delivery… they will close it out if you’re not a commercial.
Long and physical. e.g. Soybeans.
In your OP you said you had a open position you forgot to rollover.
Anyway des replied before I was got back.
Sorry about that. I managed to sort it out after I posted. The contract was still trading. However the question is still valid. What happens if you still hold a position and the first notice/last trading day comes up.
If you long say 10 crude palm oil contracts (or soya bean or crude oil or whatever).
Then after expiration, you have to take delivery of 10 or 100 or whatever tons of crude palm oil.
Of course, you have to pay for it.
And you have to arrange for trucks/ships to collect the CPO at the designated collection point.
And you have to figure out how to consume hundreds of tons of crude palm oil.
Happy drinking tons of crude palm oil for the rest of your life
(or eating soya bean for the rest of your life).
So you'd better trade physical commodities seriously.
There are traders who actually take physical delivery just for experience/fun.
The broker cannot roll over your contract as the broker could be sued for making
unauthorized transaction as some traders are expecting physical delivery
And profit from it massively
But if there is a contractual agreement between you and the broker,
then it must be followed.
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Here is the latest standard monthly expiration notice I got from the trading desk Dec 22nd, '23 in TradeStation Message Center bottom right hand corner by Windows time clock:
+ + +
First Notice / Last Trade Day for the following contracts is Friday December 29, 2023 . These contracts are physically deliverable.
First Notice:
JANUARY ‘24 COMEX GOLD
JANUARY ‘24 NYMEX PALLADIUM
JANUARY ‘24 NYMEX PLATINUM
JANUARY ‘24 COMEX SILVER
JANUARY ‘24 COMEX E-MICRO SILVER
JANUARY ‘24 COMEX COPPER
JANUARY ‘24 CBOT SOYBEANS
JANUARY ‘24 CBOT MINI SOYBEANS
JANUARY ‘24 CBOT SOYBEAN OIL
JANUARY ‘24 CBOT SOYBEAN MEAL
JANUARY ‘24 CBOT ROUGH RICE
Last Trade Day:
JANUARY ‘24 NYMEX RBOB GASOLINE
JANUARY ‘24 NYMEX HEATING OIL
Please be sure to roll or offset positions by the close of business Wednesday December 27, 2023. Failure to roll or offset may result in the position being liquidated by the Trade Desk and the account being restricted.
If you have any questions, please contact the TradeStation Futures Trade Desk at 800-837-8951 or 954-652-7930