Urgent: options expiry day

[markrmau]

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.

 

[markrmau]

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.

 

[sails]

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

 

[Bronte]

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

 

[Bronte]

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

 

[markrmau]

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.