May-June contract

[Mikkel Ovesen + 1]

Hello, im new to oil trading, and I wanna ask a question that may seem stupid, but I couldn't seem to find a good answer on google. what happens if I have recently bought WTI oil (may contract) and then it expires? will it be exchanged to the June contract and at what price? it may seem stupid, but I can't seem to understand the system with the contracts, so if any of you would be kind enough to explain it to me I would be very happy.

[Tomaz Korosec + 3]

You have to sell it and buy next month or it will expire. On most brokers this does not mean delivery of goods, althoug this is the main purpose of futures that if you hold them to expiration, you get goods delivered at that price..  As for trading, you have to roll on the last trading day if you did not roll before.

[Oskar Dzioch + 1]

Hello, I am also noobie. Could you tell me what will happened with CFD trading? Price now is about $22,  what will happened after contract change? Is better to sell today, and buy tommorow, or do nothing? 

Edited April 20, 2020 by Oskar Dzioch