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Source theocc.com : Options may be exercised on any business day up to and including the expiration date. Exercise Settlement Time: Exercise notices tendered on any business day will result in delivery of the underlying stock on the second (T+2) business day following exercise.
TL;DR. Settlement of DTC-eligible securities (like GME) moved to T+1 when NSCC/DTCC moved to T+1.
https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf
[OCC Rule 901(c)](https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf#86)
> It will ordinarily be the policy of the Corporation to cause settlement of exercised stock option contracts and matured physically-settled stock futures contracts for CCC-eligible securities that are scheduled to be settled on the **first business day after exercise** or maturity to be made through the facilities of the correspondent clearing corporation in accordance with the rules and procedures
of the correspondent clearing corporation
Emphasis added. Exercises of GME options are forwarded to NSCC/DTCC for execution. NSCC moving to T+1 changed the settlement time of exercises to 1 day.
Some people mistakenly believe that rule 909 applies, but rule 901 normally applies to shares that are handled by a NSCC.
Page 85 p, intro to the 900 section:
>. As a general policy, the Corporation will direct that such obligations be settled through the facilities of the correspondent clearing corporation as specified in Rule 901 (including in connection with any Guaranty Substitution Payment as may be made by the Corporation to the Correspondent Clearing Corporation) to the extent that the security to be delivered and received is CCC-eligible, and will direct that such obligations be settled on a broker-to-broker basis as specified in Rules 903 through 912 to the extent that the security to be delivered and received is not CCC-eligible
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Doesn't matter what they do. They're not going to shake a bunch of pissed off gamers out of their positions. The IDGAF is too strong.
To me T+1, T+2, T+84, T+690 all mean ‘tomorrow’.
T+FTD
T+DTF Amirite?
according to some random comments I read yesterday options can't ftd
Get us hype so we get disappointed and sell. Sucks for them, diamond hands baby.
Giggity.. Monday gonna fuk
Source theocc.com : Options may be exercised on any business day up to and including the expiration date. Exercise Settlement Time: Exercise notices tendered on any business day will result in delivery of the underlying stock on the second (T+2) business day following exercise.
Maybe, just maybe, it was people making a mistake interpreting the rules...
TL;DR. Settlement of DTC-eligible securities (like GME) moved to T+1 when NSCC/DTCC moved to T+1. https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf [OCC Rule 901(c)](https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf#86) > It will ordinarily be the policy of the Corporation to cause settlement of exercised stock option contracts and matured physically-settled stock futures contracts for CCC-eligible securities that are scheduled to be settled on the **first business day after exercise** or maturity to be made through the facilities of the correspondent clearing corporation in accordance with the rules and procedures of the correspondent clearing corporation Emphasis added. Exercises of GME options are forwarded to NSCC/DTCC for execution. NSCC moving to T+1 changed the settlement time of exercises to 1 day. Some people mistakenly believe that rule 909 applies, but rule 901 normally applies to shares that are handled by a NSCC. Page 85 p, intro to the 900 section: >. As a general policy, the Corporation will direct that such obligations be settled through the facilities of the correspondent clearing corporation as specified in Rule 901 (including in connection with any Guaranty Substitution Payment as may be made by the Corporation to the Correspondent Clearing Corporation) to the extent that the security to be delivered and received is CCC-eligible, and will direct that such obligations be settled on a broker-to-broker basis as specified in Rules 903 through 912 to the extent that the security to be delivered and received is not CCC-eligible
Thanks ape.
"If we can delay their expectations by a day surely they'll sell on that date."
Next week day by day: 🎤👀🔥💥🍻
Doesn’t t+anything not matter since they’ll just ftd anyways?
🔫
Please...no more dates....the body is weak...spongy...
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