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Yes (e.g., if you buy CL futures, delivery is in Oklahoma). QL coal doesn't trade anymore (all the active coal futures I can find now are cash-settled) but del
by juped 7y ago
Yes (e.g., if you buy CL futures, delivery is in Oklahoma).
QL coal doesn't trade anymore (all the active coal futures I can find now are cash-settled) but delivery seems to have historically been at the discretion of the parties, so the story is at least plausible.
- 542458 7y agoEverything I’ve read seems to say it’s very, very difficult to accidentally take delivery, but it’s not quite impossible. In related news, there is a Planet Money Podcast (episode called the Eddie Murphy Rule) where they interview the trader who took possession of a bunch of cattle by mistake IIRC.
- juped 7y agoIf you're a normal retail trader, your broker will probably intervene before then.