Early Closure

  • Early Closure List

    •  Introduction

      OptionCM™’s trading platform allows open positions to be closed out prior to the scheduled expiry time.

      All open positions are listed in the “My Open Trades” section situated on the right hand side of  Trade window.  Click on the asset name to open the trading slip and view the return available for early closure. Simply click on the close button and the option will expire with this return.

    •  Terminology

      The following terms are used by OptionCM™ to calculate values for closing positions prior to the scheduled expiry time:

      Market Price: The last known market price as calculated from Bid, Ask and Last Trade prices quoted by Data Provider.

      Time to Expiration: The time left until the position reaches the scheduled expiry time.

      In the Money: see  “In the Money” section below

      Out of the Money: see  “Out of the Money” section below

    •  In the Money Close Value Calculations

      Increase in close value

      The following parameters will always increase the early close value for positions currently “in the money”:

      Instrument Type of Option Parameter Change
      All All Time to Expiry Shortens
      High/Low High Market Price Increases
      High/Low Low Market Price Decreases
      One Touch No Touch Market Price Moves away from touch value
      Boundary In Bound Market Price Moves towards the middle of the boundary formed by the upper and lower target values
      Boundary Out Bound Market Price Moves away from the edges of the boundary formed by the upper and lower target values

      Decrease in close value

      The following parameters will always decrease the early close value for positions currently “in the money”:

      Instrument Type of Option Parameter Change
      High/Low High Market Price Decreases
      High/Low Low Market Price Increases
      One Touch No Touch Market Price Moves towards the touch value
      Boundary In Bound Market Price Moves towards the edge of the boundary formed by the upper and lower target values
      Boundary Out Bound Market Price Moves towards either edge of the boundary formed by the upper and lower target values
    •  Out of the Money Close Value Calculations

      Increase in close Value

      The following parameters will always increase the early close value for positions currently “out of the money”:

      Instrument Type of Option Parameter Change
      High/Low High Market Price Increases
      High/Low Low Market Price Decreases
      One Touch Touch Market Price Moves towards the touch value
      One Touch No Touch Market Price Moves away from touch value
      Boundary In Bound Market Price Moves towards the boundary formed by the upper and lower target values
      Boundary Out Bound Market Price Moves towards the edges of the boundary formed by the upper and lower target values

      Increase in close Value

      The following parameters will always decrease the early close value for positions currently “out the money”:

      Instrument Type of Option Parameter Change
      High/Low High Market Price Decreases
      High/Low Low Market Price Increases
      One Touch Touch Market Price Moves away from touch value
      One Touch No Touch Market Price Moves towards the touch value
      Boundary In Bound Market Price Moves away from the boundary formed by the upper and lower target values
      Boundary Out Bound Market Price Moves towards the edges of the boundary formed by the upper and lower target values
    •  Availability

      Close position functionality is not available at the following times:

      1. For a certain time after the position is purchased (typically 5 minutes)
      2. From the no more trades time (5-7 minutes before the expiry time when trading is not allowed)

      In addition OptionCM™ reserves the right to suspend the early closure functionality at any time.

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