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The cost of an Oil barrel from Saudi fields is no where close to $40. It's closer to $8-$10 (That's production cost). They build their budget based on an average oil price of around $60, this is where the gap comes from. So for Saudi, selling Oil at $20 does not mean they are losing, it just...

https://sec.report/Document/0001171200-20-000256/ Looks like they are having so much capital inflows that they applied with the SEC to increase their shares cap limit by an additional 4B shares, wow... A very bearish sign for Oil futures & the medium term outlook for Oil prices..

USO is halted now (Regulatory halt). Looks like some material information will be coming out very soon. Beware of structural changes.

Sq feet is an area measure, you need to look for a volume measure here. 1 barrel of oil is approx. 159 liters and that is around 5.6 cubic feet of volume. Multiply by 5,000 and you get an idea of the storage volume you need for the 5k barrels (5 std. contracts).

Not really. For all brokers who does not allow physical delivery (All retail brokers will be like that), the last trading date for May 2020 contract was last Friday.

Yeah, same with me yesterday also. Apparently they had to do a configuration change for the symbol to allow different fields to show -ve prices, which was done overnight

The CL options which has their underlying as the CL May 2020 contract already expired. You were probably looking at CL options which has the June 2020 contract as underlying.

Also remember from the old days of SVXY when they changed their exposure to 1/2x instead of 1x, USO can basically do the same to limit their downside (And upside potential). This move kills option premiums as volatility is almost cut into half. USO always has the option to reverse split (Which...

Beware, the Oil market (WTI) is experiencing a strong contango for the upcoming 3-4 months.

I need some advice on the best programming languages to analyze tons of price & volume data. The aim is to run certain programmed algorithms on the data and gather outputs in a proper format (csv would do). I am comparing R, Python and VBA (Because it can easily work with data in excel...

As far as I know, you can't get it in IB TWS. I don't believe IB is subscribed to get it & offer it to their clients. It's a non tradeable benchmark and won't provide any value from their perspective. Furthermore, they have the most recent data for it on their website (Updated daily). Better...

I understand your point, but you have to keep in mind that earnings season for Q1 is kicking in and with the current situation, there is always a high chance that companies not only largely miss Q1 already downward revised forecasts but also to guide much lower. A down gap of 30% (Conservatively...

As long as they have proper margin call & auto liquidation in place, they shouldn't face such a situation. Yes, gaps are more prone & frequent these days and they have to protect themselves and their customers. But we also have to remember that there are circuit breakers, which means that even...

Got that. SPX options are fairly liquid (Not across all strikes), but they should be fine for the case you mentioned. I will do the search and see what cases exactly are traders complaining from. I guess IB grew too large that they became arrogant (Typical of any company which climbs the rank...

I don't think I agree with you on that point. I also share some concerns about IB algorithms being flawed, but no in the case you mention for options vertical spreads. An option vertical spread is prone to several risks other than the theoretical max. loss calculated simply as the difference...

IB implements algorithms to cap the price of your orders before sending them to the exchange. These algorithms have multiple reasons, where the main reason behind them is to prevent fat finger mistakes and potential manipulation. I know that because I used to work in the brokerage industry...

It's true higher margins can help protect customers and steer them away from high leverage, but you have to remember that there is a ton of disclosures/disclaimers/declarations which you sign on if you want to trade certain products with IB. Not only that but also certain products are not...

Maybe you are right. I never experienced any price cap issues with stocks (Maybe because I don't trade stocks frequently or actively). But for sure the flaws in their price cap algorithms is going to cause them to lose a lot of customers. I also spoke with them with no avail. They are deaf on...

I have been using IB (And their TWS) for 14 years now. TWS is a robust, powerful & fast trading platform, no question about that. Although I am having some disputes/disagreements against IB price cap policies for futures recently, that's something else, since I won't for sure recommend them as a...

Thanks again and sorry for a long reply. 1) The price caps/order filters IB does are volume and price filters based on an algorithm. Several exchanges & regulators worked on enforcing such pre-submission order filters at the broker level before orders hit the exchange in order to prevent...