Cautious guy here, usually just trading ES, NQ. But something caught my eye on Gold, and I know I can't be analyzing this correctly. Using IB, I see I can buy the GC futures, Feb 27th expiration, and basically do an options arbitrage with tomorrow's (and I assume other days') expiring options. For example, go long GC, sell the ATM 1DTE calls for like 27 and buy the 1DTE ATM puts at 6. There has to be a catch here, no? I mean what happened to put call parity? It's never out of whack this much, or is it? IB is giving me warnings about being in the delivery window, too. But I have 27 days, right? So, what don't I know?
Feb gold are passed first notice day and longs can be assigned delivery notice. The March options are based off the April gold which is now the front month.
Very very few traders trade the GC G contract. It is expiring soon. The most active contract is now GC J contract. Don't just check how many days to expire. Instead, check which is the most active contract.