NYMEX on IB

So I was trading CL (Dec) this morning. TWS informed me that I could not trade this contract as it was too close to physical delivery. I looked up CL on website, it says that it halts trading around the 22nd. Oh well, I can adjust. Then I noticed, January was 80¢ lower than Dec. So if I were to roll, I would be hit with 80¢? Guess I still have a lot to learn.

 

I am ssuming there is some kind of roll mechanism. Thank God I can just stick to daytrading.

 

Dec is done today buddy, not the 22nd. There's more liquidity in Jan at this point anyway.

 

Physical delivery for Dec contract will start on NOV 22.
Right Now the Jan contract is the fronth month.

BTW: The Nymex e-mini on crude and the ICE WTI contracts are cash settle, you may take a look at those contract if you plan to do some roll.

 

Totally unrelated question. If I use 'Day' limit order, sometimes IB complains that it will be executed the next day. I can use "GTC", why not use this flag all the time?