Urgent: options expiry day

• 21 December 2006

• #1

M

markrmau

Joined

17 September 2004

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Hi,

Any advice from the gurus? I want to sell some FPO's, but being expiry day there are massive buy/sells and could be a volatile open.

In general, are you better off waiting and selling later in day?

Thanks,Mark.

 

• 21 December 2006

• #2

M

markrmau

Joined

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Phew, I didn't loose to much.

Actually, it's triple witching day (or whatever its called) eto+lepo, eto index and index futures all expired.

 

• 21 December 2006

• #3

sails

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Sorry - I didn't see your post earlier, however good to hear you didn't lose too much! Usually the SPI and index options expire a week or so before equity options, so this is a bit different today.

I've found that options expiry can vary from extremely flat to extremely volatile - so it's a case of being prepared for anything

 

• 21 December 2006

• #4

Bronte

Trading The SPI for 20+ years

Joined

30 July 2005

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Wow!
Pure laziness has cost me dearly today.
Sold 5600 December'06 SPI contracts
Now 2000 contracts on the Bid 5614

 

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• 21 December 2006

• #5

Bronte

Trading The SPI for 20+ years

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Compare with March'07 SPI contract:
Volume was higher overnight (Sycom)
We always have changed with volume.
We will in the future........ :bath:

 

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• 21 December 2006

• #6

M

markrmau

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Thanks Sails and Bronte. I just panicked a bit when IAP dropped 7% in pre-open.

Ended up selling 1% down on yesterdays close which is no drama.