Unexpected National Holiday Question

If you're interested...9/11


On Tuesday, September 11, 2001, the opening of the New York Stock Exchange (NYSE) was delayed after the first plane crashed into the World Trade Center's North Tower, and trading for the day was canceled after the second plane crashed into the South Tower. NASDAQ also canceled trading. The New York Stock Exchange Building was then evacuated as well as nearly all banks and financial institutions on Wall Street and in many cities across the country. The London Stock Exchange and other stock exchanges around the world were also closed down and evacuated in fear of follow-up terrorist attacks. The New York Stock Exchange remained closed until the following Monday. This was the third time in history that the NYSE experienced prolonged closure, the first time being in the early months of World War I[2][3] and the second being March 1933 during the Great Depression. Trading on the United States bond market also ceased; the leading government bond trader, Cantor Fitzgerald, was based in the World Trade Center.[4] The New York Mercantile Exchange was also closed for a week after the attacks.[5]
 
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Cabin111 said:
If you're interested...9/11


On Tuesday, September 11, 2001, the opening of the New York Stock Exchange (NYSE) was delayed after the first plane crashed into the World Trade Center's North Tower, and trading for the day was canceled after the second plane crashed into the South Tower. NASDAQ also canceled trading. The New York Stock Exchange Building was then evacuated as well as nearly all banks and financial institutions on Wall Street and in many cities across the country. The London Stock Exchange and other stock exchanges around the world were also closed down and evacuated in fear of follow-up terrorist attacks. The New York Stock Exchange remained closed until the following Monday. This was the third time in history that the NYSE experienced prolonged closure, the first time being in the early months of World War I[2][3] and the second being March 1933 during the Great Depression. Trading on the United States bond market also ceased; the leading government bond trader, Cantor Fitzgerald, was based in the World Trade Center.[4] The New York Mercantile Exchange was also closed for a week after the attacks.[5]
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but what happened to the options during these days when the market abruptly closed? Do you remember? Did all of the options expire early? What happened when your options are ITM? Do they get exercised?
 
TheDawn said:
but what happened to the options during these days when the market abruptly closed? Do you remember? Did all of the options expire early? What happened when your options are ITM? Do they get exercised?
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I don't remember...You need to look though the net to find history on it.

I do know, at that time, most options were quarterly. Leaps and weeklies (I don't believe) came into play.

I'm sure others can chime in...
 
R.R.'s funeral:

'a state funeral service was conducted at the Washington National Cathedral on June 11, the day when President George W. Bush declared a national day of mourning."

So let's check the market on 2004 June 11th. It was a Friday and the market stayed close. Same G.F.'s funeral on 2007 Jan 2nd.

ChatGPT:

"
If the stock market is closed due to a state funeral or any other reason, trading in the stock market will be suspended for the duration of the closure. This means that stock options cannot be traded, exercised, or assigned during this period.

However, the specific rules for stock options may depend on the terms of the option contract and the exchange on which they are traded. Some exchanges may have specific rules in place for situations like market closures, which may affect the expiration date or the ability to exercise options.

In general, it is best to consult the terms of the specific stock option contract or seek advice from a financial professional for guidance on what happens to stock options during a market closure."
 
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What I don't understand and still don't make sense to me is why Wall Street (stock, futures and forex markets) is closed on national holidays. They should not observe national holidays. They are the fucking least patriotic of the bunch. All they've done throughout the history was added chaos and fear, and ultimately more debt to the national coffer.
 
newwurldmn said:
If I recall, options just exercise based on last official close. Long holders basically lose their theta.

the dawn has some facts wrong. Trump didn’t shut the stock exchange down. It’s NYSE policy to shut the market down in honor of a dead president. When trump dies I will use that day to go dancing.
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You think they'll let us near his grave?
 
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