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That massive short position must have been hedged pretty well. http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=abkSqAO6ZMCM

This made me laugh.

Where is this physical/bullion market you're all speaking of?

You guys can keep complaining about HFT or learn their tactics and adapt accordingly to avoid them or use them to your advantage. Or keep complaining and see where that gets you.

No.

You must talk to Choice and ICAP.

Just a bad print. Curve is normal.

Then you're not trading VIX futures. You're trading a product they created and they're arbing you against VIX futures with your eyes wide shut.

There is no such thing as a "continuous contract." You have to roll futures and that is your cost.

JPM clears internally only. Exchange to exchange doesn't matter when they are their own clearing house. Silver trades OTC in the US, UK, and Switzerland. It trades financially in US, Japan, Dubai, India, and Russia. All in different currencies. If they're short silver in USD then...

Sold. Reoffered.

Dude you don't know a thing about futures contracts, delivery, margin, clearing, or market makers. Why should anyone listen to your BS calls? 10 year trading plan? You plan to roll the front month contract every expiration and have contango eat your profits for 10 years? Yea. Smart.

Did you all miss this? So how are short futures positions, that are hedges for long physical/otc trades, thus termed naked?

Can one of you tinfoil guys explain to me how JPM can sell "20-50 ounces" against every 1 ounce of long silver?

JPM does nothing naked. If they are short futures then they're long physical or swaps.

You're on the right track. Keep digging.

It's not the exchange. It's the market maker(s). And it's a function of risk.

Sell put spreads on SLV to finance calls on ZSL. Thank me later.

With who?

Any updates?