Settle expired legs

Options that expired are settled at the underlying’s closing price for the expiration date. Until then the trade’s days to expiration show in red. Settling adds a settlement action, closes the trade once nothing is left open, and its P&L counts in Performance.

Automatic settlement

Once per New York day, at the first connection that day, Tented settles the trades with expired legs by itself. The connection is IB, or thinkorswim, which takes closes from Yahoo Finance and says “via Yahoo”.

• A toast reads “Auto-settled N expired trade(s)” with each trade’s number and result. A result is marked “(approx)” when no close existed for the expiration date and the previous session’s close was used.
• A trade it could not settle reads “N expired trade(s) need settling”, with the reason. Click Open Journal on the toast.

Settle by hand

1. Journal → expand the trade → Settle expired legs.
2. The dialog “Settle #N name” asks for a settlement price per expired expiration, prefilled with the fetched close. It shows each leg’s intrinsic value and the cash it settles for.
3. Click Settle.

If an expired trade stays open, Tented was not connected on that New York day or the close could not be fetched; settle it by hand (An expired trade stays open).