Rollover to the "U" contract today?

Today at 9:30 is the day to rollover to the September contract, which is "U"?
Right?

 

i've been wondering how this works. hypothetically, if you're holding a june ES, does IB automatically roll it forward to september, or is any action required?

 

Yes, rollover at 930ET, no IB does not do it for you.

 

thanks very much for the info. just out of curiosity, what happens if you don't exit the june position - does it expire worthless at 9:30?

 

Its called delivery!
Assuming you are long The ESM03.
You will take delivery of the contract and therefore be liable $50,200 per contract. ESM and NQM are "commodites futures contracts" as are Orange juice or Pork Bellies Mortimer!
Why don't you see what happens and hold on to the contract.

 

June contract doesn't expire today. Traders just rollover (start trading) the next contract today. The June contract expires in a couple of weeks (I think).

 

It expires next week on . . . expiration day

 

last trading dates/settlement dates for the 2003 E-mini S&P 500 contract

June (M) 6/20/2003

Sept (U) 9/19/2003

Dec (Z) 12/19/2003

http://www.cme.com/risk_management/clearing_house/displaycalendar.cfm

 

How do you rollover a contract?

Do you just sell the June and buy the September?

 

How do you rollover a contract?

Do you just sell the June and buy the September? [/QUOTE]

BINGO ! ( making sure to adjust your stops )