Where is my premium?

Hey all,

I'm new to options and am testing the waters currently (on a demo account).

I placed a bear call credit spread last week. Everything went as expected except for my missing paper profits.


Why did I not receive the premium when they expired worthless?

I also see that the account is now showing balances for Yen as well as AUD and USD.
I originally assumed I had been paid in Yen (makes sense from options on a Japanese index) however the amount of Yen is approx = $177 not the $8460 in premiums I had been expecting.

Where have I made a mistakes?


I'm feeling a little lost in the weeds so any help is greatly appreciated.

 

Premium just gets added to your cash when you make the trade... you don't have to wait for it to expire worthless.

 

What's the multiplier on Osaka N225? You opened the DU-account with $1MM AUD? JPY is int-earned.

 

The multiplier is 100 I believe.
The demo account started with $1M AUD, I didn't change anything.

Ok next dumb question, Why would I earn interest on an AUD account in JPY just because I'm trading some Jap options?

 

Thanks, that does appear to be what happened.
Now I just need to get the numbers to add up

 

Is the 3K AUD = the credit received? it's settled cash dude.

 

Ok I figured it out.
Thank you for bearing with me!!

The approx 3K was a from a previous option trade I had done the week before in N225.
This past week I made a trade in N225M (mini).
As it was the mini, the premium received (looked big but was denominated in Yen) was actually only about $86 AUD.
I did not notice this go into my account (I thought it was normal daily interest accrual) as I was expecting a much larger amount.

Thanks for your help @poopy and @wxytrader