I am holding some options on the ES and I was looking for the final settlement on the ES for today friday august 21st. Was it 1025.50? Can anyone confirm this?
Wrong. The last trade is not the settlement. Go to ftp://ftp.cmegroup.com/pub/settle/stleonly for the current day's settlement (after 18:00 EDT).
You are supposed to ask the questions before you buy/sell, not after. The contract specification clearly states: "Option exercise results in a position in the underlying cash-settled Futures contract. Options which are in-the-money on the last day of trading are automatically exercised. QUARTERLY OPTIONS are exercised into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 3rd Friday of the contract month. SERIALS are exercised into underlying cash-settled futures at their closing price on 3:15 p.m. on the 3rd Friday of the contract month" http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_contractSpecs_options.html You will be short one Sep 09 ES contract at 1025.25 on Sunday evening. Lot of risk for one tiny tick in the money.
After a PM I need to correct that post. Anyone short one AUG 1025 ES Call will be short one Sep 09 ES contract at the strike price of 1025.00 on Sunday evening. Any owner of one AUG 1025 ES Call will be long one Sep 09 ES contract at the strike price of 1025.00.
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