Comment by kristjansson
16 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...