Comment by kristjansson
11 hours ago
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 <