Whenever you trade any futures products, our futures commissions merchant (FCM) StoneX (formerly known as FCStone) will send you a tastyworks daily statement (pdf) via email. Futures products include any Small futures contract, CME outright futures, and CME options on futures.
You can think of a tastyworks daily statements like you would with a trade confirmation that you would receive when trading securities (equity/ETF shares and options). StoneX sends a tastyworks daily statement whenever you trade futures intraday, hold futures or options on futures overnight, and once more when your futures position settles after closing.
There are a couple of things to keep in mind when trading futures and when referencing your tastyworks daily statement. Since futures are Section 1256 products, tax-lots (FIFO/LIFO) do not affect your overall tax liability since futures are subject to mark-to-market reporting. As a result, the year-to-date profit or loss listed on the tastyworks daily statement may not reflect the P/L listed on your trading platform when you hold a futures position overnight. However, your futures P/L's will normalize and align once you are flat, or close out of all futures positions.
The PDF displayed below explains how to read your tastyworks daily statement. Feel free to reference this guide in this article or download a copy to your computer.