Daniel Richter

BaFin Knock-out Knowledge Test: Practice Trainer

Since 16 June 2026 German retail investors must pass a BaFin knowledge test before buying turbos. The rules, the numbers and a trainer with 34 questions.

Options Expiration Explained: Cut-offs, Auto-Exercise & Pin Risk

What really happens at options expiration: the 4:00 pm ET last trade, the 5:30 pm exercise cut-off, OCC auto-exercise at $0.01, pin risk, weekend assignment, SPX vs SPXW, and the Eurex rules.

Foreign broker options taxes in Germany (IBKR etc.)

No withholding at a foreign broker: how German residents report option gains, premiums and losses from Interactive Brokers and others on Anlage KAP, with currency conversion and deadlines.