Daily Option Expiry Time

[Goldengawd]

Hi I've chatted a number of people at 'IG' and nobody seems to know when a daily option (for example an Index option) expires. I've had 3 different answers from 3 different people, one saying they simply didn't know? This is a bit concerning as it seems IG are selling options without being able to tell the customer when they expire?? This can't be correct surely? Any thoughts guys? Cheers

[Spook1304]

You should be able to see the expiry details of an instrument on the trade page:

[Spook1304]

Sorry, cant edit my original post - this also applies to Daily Options:

[Goldengawd]

Thanks for the response Spook, I've seen that info before I believe its the last time you can purchase an option - I'm looking for the expiry times. One of the IG helpdesk guys also thought that was the expiry time then corrected themselves. 

[Spook1304]

1 hour ago, Goldengawd said:

Thanks for the response Spook, I've seen that info before I believe its the last time you can purchase an option - I'm looking for the expiry times. One of the IG helpdesk guys also thought that was the expiry time then corrected themselves. 

Technically, after the last deal date/time, you are  bound to that deal regardless. I believe the option can and will still track the underlying (as some of them trade out of hours) but there isn't much you can do about it even if you wanted out for any reason. Actual expiry depends on the instrument.

I'd recommend rolling or getting out prior to that date/time as your winning trade can end up being a loser (and vice versa) if the market shifts unexpectedly after hours.

This article might have the answer you're looking for (Check the notes section at the bottom)

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/what-are-ig-s-options-cfd-product-details
 

 

 

Edited May 2, 2022 by Spook1304

[Goldengawd]

Many thanks again

[Kodiak]

"

1. Positions not already closed by the client expire automatically as follows:

Daily options on FTSE 100® and Wall Street are settled against the official settlement levels of the cash FTSE and cash Wall Street markets. Daily US 500 options are settled against the official settlement of the SPX 500 cash.

https://www.ig.com/en/help-and-support/cfds/fees-and-charges/what-are-ig-s-options-cfd-product-details

[Goldengawd]

Thanks Kodiak I've seen this info before but I'm looking for actual expiry times - no-one in IG seems to know what the times are (ie. what are the cash close times?).  I guess I'll have to use the demo account and set and record the expiry times.

[YHanAir]

@Goldengawd were you able to record any expiry times, or insights in how they look like in general at IG?

Thanks.