Comment by kristjansson
18 hours ago
There are cash settled futures there are closer to options in that they’re purely financial, but even those don’t have optionality at maturity.
Generally a dangerous thing to have as synonyms regardless, otherwise you end up with a coal barge in the east river https://thedailywtf.com/articles/special-delivery
Remembering: WTF was quite popular 20 years ago! :)
Regarding this story: I guess for most private participants, physical delivery is not possible/excluded
Your guess would be wrong. If you’re trading physically settled commodity futures, and don’t close before the settlement date, you are now the owner of a large quantity of your commodity of choice.
It just happened today: https://www.reddit.com/r/wallstreetbets/comments/1siq4m2/any...
Not sure if this is true - there is this Bloomberg evergreen from 2015:
https://www.bloomberg.com/news/articles/2015-11-03/that-time...
How did she not get to buy oil while the reddit guy got it delivered?
And down in your reddit thread someone says: > This is fake but this has happened before years(decades?) ago, hence why brokers added to t&c that they will close out unrolled contracts on your behalf so retards playing oil futes and cfds don't end up having barrels of oil shipped to their nearest port <