Recent content by abc1234

The exchange listed maintenance requirement on that H3-K3 spread is 900. Outright maint. req. for CLH3 is 6,600. Personally, I like to keep my margin level in the 25-40% range of Total Equity. If my broker was charging 3x the exchange SPAN margin I would not be able to do that.

Listening to @Overnight is probably more dangerous. I am not familiar with Rithmic but trade and hold spreads including NG with TT and have never had any issues with the platform accounting for spread positions. I've been on the current TT platform since 2019 and was using TT's X Trader...

Obviously those car vending machines.

Typical for Overnight to obsess over a minor error and steer it away from your simple question. For CME products follow the link labeled "Settlement Procedures" on the contract Specs page. Crude oil uses VWAP for the last 2 minutes before the old pit close at 2:30 est...

Micro = $100 per $1. CL = $1000 per $1.

Are we talking options on CL or a micro? Wouldn't he net $4650 in your example that he buys on the bid and sells the offer?

@tiddlywinks Assuming you are an exchange member and your futures gains are subject to SE tax (earned income) as a sole proprietorship, what are the benefits of an S-Corp vs sole proprietorship? Thanks!

https://www.bloomberg.com/news/articles/2021-10-19/copper-market-s-historic-squeeze-continues-with-shrinking-stocks https://www.bloomberg.com/news/articles/2021-10-19/trafigura-played-key-role-in-draining-lme-copper-inventories Summary if you can't get around the paywall...

One more thing you need to factor into your savings calculation is paying Self-Employment Tax (15.3% up to 142,800, then 2.9% on anything greater than 142,800) on your gains from the products that are included in your membership. This assumes you are a US Citizen.

This inverted system to rebate the taker and charge the maker was introduced by Direct Edge (EDGA) over ten years ago. Direct Edge was acquired by Bats in 2014 who was acquired by CBOE in 2016 who CME denies they are acquiring as of 2021. It looks like CBOE is still using the inverted system...

For CME positions there is a tool on the CME website. https://www.cmegroup.com/tools-information/webhelp/cme-core/Content/margin-calculator.html You need to register here and sign in here. https://login.cmegroup.com/sso/accountstatus/showAuth.action

How is putting your pre tax money aside to be taxed in the future being a "leach"?

Thanks! I've been leaning towards Midland. I will probably make the move later this year. There is no annual custodian fee. There might be a monthly fee if your account is not active and does not meet a min. balance requirement. IB allows one free cash transfer out per month (wire, check...

Initial margin is what you will need in your account to open the position per contract. Here is what IB is currently charging for those products plus micro ES. MYM Initial margin: 2,272 MGC Initial margin: 2,500 MES Initial margin: 2,573

Margin, commissions, and platform are the reasons for the move. Margin depends on the product but 2x seems to be the minimum for initial margin. Here are some examples that I just pulled up. CL Initial: 18,500. Maintenance: 7,500 - it use to be a lot less when oil was at 0.01 ;) ES Initial...