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    Futures Spread Trading chart profit/loss calculation

    I'm not sure about the accuracy of that chart. I'm guessing you are charting two outrights against each other and there is a lot of stale data. Here is SI Sep21-Dec21 implied calendar from TT. At $5.00 per tick the most you could have pulled out of this on a swing trade is $300 per contract...
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    CFTC report into at home/locals $660m gain from negative oil

    This is what he asked. Not what was the hard limit in the past. They increased the DCB from 7% to 15% on Mar. 19, 2020. So they were using the 15% circuit breaker on April 20th. How far in the past are you going back and why is it relevant? I'm not sure when crude had a hard limit that...
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    CFTC report into at home/locals $660m gain from negative oil

    The High/Low limit is different than the circuit breakers. The circuit breakers are a 2 minute halt in trading if the price moves a certain percent. In Crude it is currently 15%...
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    if you fit all the IRS criteria of a trader but you trade your savings & not an entity, FICA taxes?

    Straight from the source. From the third topic on this, "Traders". Very last sentence in that topic. "Gains and losses from selling securities from being a trader aren't subject to self-employment tax." https://www.irs.gov/taxtopics/tc429
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    if you fit all the IRS criteria of a trader but you trade your savings & not an entity, FICA taxes?

    In most cases NO for FICA/SE Taxes, exception for futures exchange members. YES for Medicare taxes for earnings above 125,000 for single or 250,000 for married filing jointly.
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    NY wants to try a FTT

    https://www.bloomberg.com/news/articles/2020-07-20/new-york-sees-push-to-tax-stock-trades-with-revenue-in-free-fall How would this work since the data centers and matching engines are in NJ and only the TV studios are in NYC? New York Sees Push to Tax Stock Trades With Revenue in Free Fall...
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    Do 1256 gains require quarterly tax payments, assuming no other income

    If you had $0 total tax liability in 2019 you do not need to make quarterly payments this year based on Safeharbor 3 below. There are 3 "Safeharbors" to make sure you avoid underpayment penalties. 1. If you owe less than $1,000. You may not know if you do or not until EOY. 2. If you pay...
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    Do 1256 gains require quarterly tax payments, assuming no other income

    You do not want to make a 475 election b/c 1256 contracts are already marked to market without it. If you make the 475 election you lose the 60/40 tax treatment. If you are profitable and expect to owe more than 1K at year end you have to make quarterly ES payments regardless. "Section 475...
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    Do 1256 gains require quarterly tax payments, assuming no other income

    The IRS expects you to cover 90% of your 2020 tax liability OR 100% (110% if income is high enough) of your 2019 tax liability through quarterly estimated taxes. Normally you cover over 90% of current year liability through payroll, however, this year you will not. The easiest thing to do is...
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    AMP, how could you?

    Has a Roth IRA = US Based
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    Has anybody lost money with a broker going under? (Lightspeed Lime Brokerage)

    Do you mind sharing what brokerage closed your crude spread? Did they give you any notification prior to closing?
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    I've paid over $60,000 in commission the last few weeks and im done

    Maybe he has been trying to get a hold of the CME and find a private brokerage??? Simulator money is easy to reload. I tried to take this guy seriously but including "poops" in his s/n on the livestream makes it very difficult.
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    Negative numbers

    Based on the part of the article below he lost at least close to 30K but more likely nearly all of his balance based on the way he was trading. Trade 1: long 5 lot at 3.30 = -16,650 Trade 2: long 21 between 3.30 and 0.50. Guesstimate an average of 1.50 = -31,500 Trade 3: long 212 at 0.01 =...
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    Found that dude trading CL with an IB account

    *I agree and speculators who understand CL and the liquidity issues arising before expiration were out at least 3 days before expiration. *ICE WTI did exactly what the contract specs said it is supposed to do. If you do not understand the product you probably should not comment on it and...
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    Can I use exchange seat for self-directed IRA?

    I lease a NYMEX and CBOT seat and am considering opening a self-directed IRA. Can I use my existing leased seats to reduce exchange fees in my IRA? @MattZ @Robert Morse
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    IB customers lose $88m trading WTI crude

    The IB losses were on the ICE WTI contract. It stopped trading on Monday and settled to Monday NYMEX closing price. The NYMEX May contract final trade day was Tuesday. https://www.theice.com/products/213/WTI-Crude-Futures
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    recommend futures broker for physical delivery

    This is insane... -40.32 print. Maybe you could buy a contract and just dump the oil down the drain. Similar to what the dairy farmers are doing with their milk that they can't sell.
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    Do you know any HFT firm that searches investors?

    Virtu is publicly traded. Symbol VIRT.
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    recommend futures broker for physical delivery

    New ET'er...How do you plan to transport and store your oil you want to take delivery of?
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    Odds of oil talks cratering?

    Delayed until the 9th, if it happens at all... https://www.reuters.com/article/us-oil-opec-saudi-russia-idUSKBN21M0FY
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