Confusion on weeklies

#1

Thursday Morning 3:00 am and I brought at the opening a daily contract with an expiration of 8925 but didn’t received my $100 when it finished in the money at 4:00 pm Looking at history, I was able to see that 8925 was a weekly strike price. Quick charts taken from my open position or taken from the weekly instrument show an opening of $49.00 and a close of $35.00 at 3:00 am Thursday morning and they both are showing $35.00 for over 25 hours and not a single transaction occur since mind. Here it is 4:10 am Friday morning and they haven’t even put out Friday daily binary expiration yet, so they know they have a problem. My question will be are they man enough to omit it or take the cowardly way and try to cover it up by saiding I pick a weekly strike price. This will tell me a lot about the firm I dealing with. Another question is will the computer recognize Friday expiration? Here it is 4:43 am Friday morning and Quick Charts are still in error by showing only my transaction for the last 25 hours. My transaction history shows:

10/23/14 03:00:00 AM Order Germany 30(Dec) >8925(4PM) 10/24/14Web $ 1 35- G -

I have never purchase a weekly contract and does anybody know how this history tells the time expiration? What does the G stand for? Is there a different description for weekly versus daily?

#2

Follow Thru:

Although the Germany 30 market was down Friday my contract was still in the money and I received my money. That clear my doubt of maybe I had an orphan position here.

Logically maybe if I waited a few seconds more, everything would had turn out ok. Maybe I interrupted a computer program routine before it had time to finish. Only weekly selection had shown all night and as soon as the daily selection pop in the menu at 3:00 am, I select it and found my strike price and submitted a bid at 03:00,filled at 03:03, profit target submitted at 03:05. I check at 15:45 and couldn’t understand when so far in the money that my profit target wasn’t hit. So I cancel the profit target at 15:50. When at 17:00 I couldn’t understand why my position contract wasn’t settle but instead had an red circle x next to it. I have only traded daily contracts and have become condition in the ways they work. Looking into it, I saw I had a weekly contract.

Logically the reason why quick charts show only my transaction could be it was really the only one that occur on this weekly contract. I don’t know what the “G” in transaction history means, but it there for all my transactions. I can logically explain everything except the reason why Thursday daily contract appear at 03:00 and Friday daily contracts appear shortly after 04:00.

It been nice for the description to had included “WK” in it but maybe there just wasn’t room for it.

Lesson learn:

Get in the habit of checking expiration time even though they are going to be correct 99% of the time.

#3

A bit confused by the issue. I have found when people think they are getting hosed on an exchange usually it is simply a misunderstanding and calling the exchange immediately when you think there is an issue is the fastest way to get it resolved and get clarity. An exchange is not a firm and is not trading against you they are to facilitate orders between buyers and sellers. If you think there is an issue the best thing you can do is call them immediately.

The weekly contracts are listed under weekly on the platform. The contract has the expiration date and time on the ticket. The scanner has a W next to it in addition to days time etc. listed till expiration. And in open positions says days or hours minutes till expiration. So I’m not sure where the confusion is on daily or weekly. When the market is closed on a position carried past the closing time of trading hours and before opening time of trading hours on that contract there will be a red x.

Not sure why your reviewing quick charts for pricing (also review bid offer on them not last to see where the price has been available.

A friday contract appearing on Thursday would be a weekly contract unless doing forex where there are multiple daily expirations.

Either way it sounds like you got it figured out and I hope the above helps some.