I was short a 2720 Call on Friday, and the ES closed at 2722, yet I wasn't assigned.

Discussion in 'Options' started by CyJackX, Nov 4, 2018.

  1. CyJackX

    CyJackX

    Am I seeing the wrong numbers? I bought a long at 4:45 thinking it would flatten me out once assigned.
     
  2. Robert Morse

    Robert Morse Sponsor

  3. CyJackX

    CyJackX

    I was short, selling a straddle.
    The EW1 NOV18 2720 Call Fut Option.

    Long or short, wouldn't I still have been assigned a position if at 4PM it was over 2720? Nothing happened and the long I got Friday afternoon cost me a couple points on today's open.

    Looking at my brokerage app IB TWS at "Yesterday's" trades, it lists at 02:20:39 this instrument Expired. So, Saturday at just past midnight, it resolved, but did not result in assignment but expiration.
     
  4. JSOP

    JSOP

    If you were short and the option was ITM, you would be assigned if you didn't close the short position before the market close. You won't see the assigned underlying until the next Monday if the expiry was on a Friday. Check your account on Monday.
     
    Last edited: Nov 5, 2018
  5. Robert Morse

    Robert Morse Sponsor

    I do not know how IB processes these, but you should have seen the result by Sunday's open at 5pm CT. You should check with them to see if it just has not been processed yet. I would not assume you were not as it is automatic.
     
  6. ktm

    ktm

    You did not get assigned.

    While the futures settlement was indeed at 2724.30, that was at 4:15. At 4pm, the CME sets the "fixing price" which settles the weeklies. According to the CME Daily Bulletin, the 4pm fixing price was 2719.64 and the 2720C line for EOW1 reads "CAB" - expired worthless.

    Trust the IB statement. If I get assigned, I see it on the statement for Friday and typically get an email on Saturday - although I wouldn't trust the email to arrive at any specific time, if at all. And the position would be in your account for the Sunday evening opening.
     
  7. ktm

    ktm

  8. Robert Morse

    Robert Morse Sponsor

    Do you have a link to that?
     
  9. ktm

    ktm

    Above your post.
     
  10. tommcginnis

    tommcginnis

    Well!
    A mystery as to how to match candles with no part <2720 to a declared 2719.x close....:banghead:

    BUT WHO CARES?!? as the OP gets 3+ points on their long at today's open.:wtf:

    "Phew!":rolleyes:

    :D:D:D
     
    #10     Nov 5, 2018