Let's say I am trading crude oil futures, and I accidentally held a contract past expiration. What would happen? I can't actually take delivery of 1,000 barrels of oil!
Conversely, what would happen if I held a sort contract passed expiration? I don't have 1,000 barrels of oil to deliver!
Would these situation be settled in cash? What exactly would happen?
Thanks!|||http://www.oilpriceupdates.com/ is a good start if you want oil info and news.|||Oil is on its way out.. better dump it while you can|||You better call your broker LIKE YESTERDAY.
If you were short you were settled in cash, if you were long you went past First Notice Day.
Get a new broker. They should have called you and alerted you to this problem BEFORE First Notice Day.
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