What happens when futures reach expiration.
As per title, I am a newbie to futures. Google says it will be settled in cash or rolled over but I would like confirmation from moo moo users.
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102566976 : for gold future trading in moomoo, close your position before contract expiration date as moomoo doesn't handle physical delivery. that should apply to all commodity futures in moomoo. liquation could happen any time during expiration day. feel free to correct me on this
Kiexcolo OP 102566976 : Thanks for your explanation. Can I assume that moomoo will auto close the position if I didnt manually close it at expiration.
102566976 Kiexcolo OP : that'd be the case it seems because the alternative would be physical delivery which moomoo stated that they don't handle that. brokers typically liquidates their client's position using market order so it's best that you avoid that by closing it out early
Sam Shine : It will auto close by