Expirations

-Options (on stocks or ETFs) expire on a set date. At expiration, options that are in the money may be automatically exercised, which can result in stock positions being created in your account. You must have enough cash or margin capacity to support any resulting stock positions. 

-Futures contracts also have expiration dates. Depending on the contract, they may be cash-settled or physically settled into a futures position for the next delivery period. If a futures contract is held through expiration, you must have sufficient liquidity and margin to support the position or settlement.  GigaTrade does not support physical delivery of any futures contracts. 

-Futures options expire into the underlying futures contract if exercised. This means an in-the-money futures option can result in a long or short futures position, which requires full futures margin. 

 

It’s the client's responsibility to monitor expiration dates and ensure your account has enough liquidity, margin, and buying power to handle any positions created by expiration or exercise. If requirements aren’t met, positions may be closed before expiration.