Rollovers

[Waterman]

Hello All.
I am pretty new to trading/spread betting and would welcome clarification regarding rollovers. I have just rolled over a bet which was in the black at the time of the rollover. The position was closed and a new one opened at the now higher price. What happens to the profit (or loss) that was closed on 16th Sept - I haven't had a new statement, so is this carried over and only visible when the bet is closed completely? It doesn't show on my online account (IG Index).

I'd be grateful for an explanation, thanks.

 

[dsmodi]

hmmm - how abt asking the actual company?

I know with cantors, they close like normal with appropriate P/L, and open a new position with a reduced spread if it's a rollover ....

 

[FTSE Beater]

Hi Waterman

Welcome to T2W

The rollover happens once the current contract has expired. So if you brought a September contract, that will now be switched over to the December one.
The profit from the September one should be in your account if they have closed that position.

HTH

 

[Waterman]

thanks info dsmodi & ftsebeater.

yes, phoning the company would be the thing to do, I just didn't feel up to showing my ignorance on the phone at the moment
you've both confirmed what I hoped was my understanding of the situation. thanks

Waterman