NQ delivery with IB

Discussion in 'Index Futures' started by luisHK, Dec 16, 2011.

  1. luisHK



    Got mixed up and i'm long 3 nq december contracts with IB.

    Do you know how -and when - this will work out ?

    I have enough funds to to take delivery btw

  2. Cash settlement, no delivery.
  3. luisHK


    Thanks Jeb, but what does it mean exactly ? Does it mean I will have to pay the 2573$ IB shows I'm losing on those contracts and I have no related position at the moment ?

    disappointing, I'm long 3 more NQ March contracts but wanted to be long more QQQ or NQ into market open today :(
  4. rwk


  5. rwk


    Your cash well be reduced by the amount of your loss, plus a commission for settling the trade, and the position will disappear. All this happens overnight tonight.
  6. luisHK


    Thanks Rwk !
  7. nkhoi

    nkhoi Moderator

    and its better that you go flat yourself instead of letting a broker does it for you or should I say does it to you.
  8. he index cash settlement is based on "a Special Opening Quotation of the relevant underlying index".

    Your gain or loss will be based on the Nasdaq 100 SOQ for today. The SOQs are usually made available before noon on settlement day.

    Read more at: http://www.cmegroup.com/trading/equity-index/settlement.html

    The market opened strong today, so it went your way.