I have a position I want to hold on to and I don't want to get out of it right now but soon the contract is going to expire. will it automatically switch over to the new contract? will I lose money in the process? Do I have to do it manually?
What happens when your holding a position in tws and the contract expires?
- Thread starter Magnum29466
- Start date
Manual. It's called rolling over your position.
Magnum:
You mention TWS in the thread title. That implies IB is your broker. If so here is some info from IB:
With the exception of certain currency futures contracts, IB does not allow for the actual physical delivery of underlying commodities. Contracts which settle by physical delivery must be rolled over or closed out prior to a close-out deadline or face forced liquidation by IB. Please refer to the website under the Trading and then Delivery, Exercise & Actions menu options for additional details as this deadline will vary by product.
I'd suggest your look at the IB web site.
Jack
You mention TWS in the thread title. That implies IB is your broker. If so here is some info from IB:
With the exception of certain currency futures contracts, IB does not allow for the actual physical delivery of underlying commodities. Contracts which settle by physical delivery must be rolled over or closed out prior to a close-out deadline or face forced liquidation by IB. Please refer to the website under the Trading and then Delivery, Exercise & Actions menu options for additional details as this deadline will vary by product.
I'd suggest your look at the IB web site.
Jack
understood,
It's superstition but when I'm in a nice postion I just like not touching it especially closing it when I know it going to get even better.
oh well, gotta do what you gotta do....