How does am settlement work on SPX? I was short some SPX puts on Friday that closed just OTM. I now have no position and my margin requirement has gone according to IB account window. Do I still have risk until the open on Monday? I usually trade ES which have PM settlement and position goes to zero at 9pm.
https://www.cboe.com/tradable_products/sp_500/spx_options/specifications/ The contract spec is not clear. I hope so as it could be a lot lower by Monday open. The invasion news did not break until after European close so their could be follow through.
https://www.cboe.com/tradable_products/sp_500/spx_weekly_options/specifications/ you are right. I get to sleep tonight!
your contracts on Friday are done. If you have contracts expiring on Monday you have a whole 23 hours of putin risk to deal with.
Majority of SPX expirations are PM settled based on final closing price on SPX. The AM options are the exception with those expirations being the 3rd Friday of the month; there is also a PM expiration same day. The AM options settle based on the official rate (ticker: SET), which is now published daily about ~30 minutes after market opens. All SPX options are cash settled.