This FOP stuff can be quite confusing sometimes ... www.interactivebrokers.com/discus/messages/2048/20996.html?1079962360
FX, I had some YMs as well. Those were flushed out on Thursday night's IB statement and my account credited Friday morning. That part worked pretty well from where I sit.
Fine, then it worked as expected for OYM. Still wondering why options on ES seem to be processed in a different way than options on YM. Or did IB remove options on ES also on Thursday from customers´ accounts ?
Worked out for me also. The fact that i was short some YM puts, thinking my margin would be safe, caused me to overhedge a bunch in the YM June contract going into friday's close (net short over weekend after es settlement) to compensate for the ES Put margin requirment. Needless to say, i was pleasantly surprised this morning. I guess IB helped me out in this instance.
My understanding is that the ES settlement price is determined by the "special opening" on Friday morning for the Mar/Jun/Sep/Dec expirations. The figure is often not available until later in the day, but you can put in a pretty good guess based on the opening. I assumed the YM worked the same, but I guess not as IB closed my YMs with a 10308 settlement per my Thursday statement.
Followup on the last post. YM settlements should work the same as ES. Turns out, IB screwed up and used the closing from 3/18 to settle and remove the contracts. They should have used the Friday special opening, which was roughly 18 points lower. I didn't question any of this until this past Friday, when a credit showed up on my statement with the only explanation being "adjustment". After several emails, chats and phone calls this morning, I learned why they were throwing money my way. It would still be nice to have some sort of notification, or better yet a corrected statement (for the auditors who aren't fond of mystery money appearing in the account under the term "adjustment".)