sir i am very new to trading now i am concentrate on currency futures …may be my questions silly ,suppose usdinr 27 march contract trading at 60.30, same usdinr 27 april contract trading at 60.60 …suppose i am buying march contract at 11 am morning at march 27 at 60.30 then if i wont square of my position on that day .,weather if my posiiton automatically roll over to april contract .if it is what is roll over premium charges and may i get that 30 point profit please help me
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Naveen,
If you don’t square your position off, it will get expired by the end of the day on the expiry day, and you will not be holding any position next day.
If you wan’t to continue holding till April, you will first have to sell your March at 60.30 and then buy April at 60.60, but there will be a rollover cost of 0.30 that you would pay extra when buying April.