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In a message dated 97-07-17 16:15:26 EDT, bobrabcd@xxxxxxxxxxx writes:
> The next T Bond futures exprire in September.
> What day?
> What time?
>
> When do the Sept T Bond Futures Options expire?
> In August?
> What day?
> What time?
To answer your questions, the last US U7 trade is Friday, Sept. 19, at the
close (3 p.m. Chicago time). However, most traders switch out the contract
on the prior Monday, Sept. 15, sometime during the day. This is typical, but
it does vary. Your broker can tell you when "the floor rolls," as they say.
It is usually a function of open interest on the new Z contract exceeding
the old U.
Option expiration for the Sept. T-Bond is a month earlier, Friday, August 22.
Options expire at the end of trading also. There are complicated rules that
may get you automatic execution on Bond options at the close, but most people
try to close them out before that.
What I would recommend you do is get a handy-dandy book that gives you all
these dates. It's given out free by a lot of commodities brokers and by
Hightower, but if you can't get one free they cost $10 and can be ordered by
phone by calling 412-458-5860. It's called "Futures Calendar and Reference
Guide," and it gives you all the key dates. You need one of these to trade.
And in October you can place your order for next year's calendar, which
usually gets mailed in late Nov./early Dec.
Good luck.
Larry
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