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In its heyday, there was no bigger pit than the Eurodollar futures & options

I remember the expiring May20 bid/asks being rather thin with low volume that day. A 10 lot is probably the most he could have gotten off at (-$3.00). Panic and despair would have definitely overwhelmed him as he sold them all the way down to -$40.00 Many trading careers have abruptly ended...

Ironically, if IB had their shit together he probably would have panicked to sell out of everything as soon as he saw a negative print, after thinking he just bought the absolute low a few seconds earlier.

Traders were selling his penny bid (212x) on IB and simultaneousy buying -$4.00 on TT (Trading Technologies). I think IB should eat all of it, considering their platform was giving misleading prices the whole way down. IB's founder, Thomas Peterffy, is worth $15 Billion and could cover IB's $88M...

Depends on your perspective and mentality. When you trade your own money, you many not make that much starting out, but as you build the account up and become consistently profitable there is nothing better than getting 100% of what you make and only paying 20% Federal taxes on it. You also...

Unless you have some market data recording application/algo, that is an expensive service you'll have to pay for.

Most of the EOD historical data services give you crappy jagged settlement curves whose IV levels are vulnerable to resting limit orders and inventory biases by the lead MMs. In order to get super smooth optimal EOD as well as intraday smiles and IV surfaces you need to record the market data...

Combination of strong coffee, cocaine, and adderall significantly increases your heart rate and metabolism, causing you to defecate at least 4X before noon while day trading.:caution:

Go right to the source: CBOE DataShop https://datashop.cboe.com/?gclid=Cj0KCQjwhtT1BRCiARIsAGlY51KGQZFNW2pJSlHNOZ1ViSkO0I0TtteMi8Fdk0yw1XU_0MOkEPUJoP0aAjAhEALw_wcB

Sort of. The Eurodollar options are dominated by big prop groups with deep pockets. They are so laser focused on doing the big institutional trades, that they'll just take out the pesky small retail orders that are "middling" the markets, so the really big customers can see where (hard bid/hard...

There are enough MMs (and "market-takers") in the Euros to probably make you a pretty tight (maybe even "choice") market in response to your RFQs if you are going to trade small (500 or less). To your advantage, ED traders may go out of their way to take you out of your orders at "mid-market"...

According to the EIA, WTI spot was -36.98 vs -37.63 settlement for CL May20 on Mar 20. They should come close to converging as WTI front month expires. https://www.eia.gov/dnav/pet/hist/rwtcD.htm

Front month Jun20 in WTI is up almost 300% from its low of $6.50 two weeks ago. All the hedge funds have loaded up on longer-dated CL expirations and no one in their right mind is going to risk taking physical delivery in front month June if they're not able to. So I don't think negative prices...

Looks like these Chinese investors had it just as bad or worse than the long CL May20 accounts liquidated at IBKR. Investors Commit Suicide After Bank of China’s “Futures Contract of Crude Oil" |CCP Virus|COVID-19

Thanks for the clarification. Surprised IB is allowing traders to hold CL longs up until the morning before expiration for Jun20, after they took an $88M hit on May20 liquidations last month.

How else are the dead-end job brokers and "old school" floor traders going to afford to stay in their homes in Hinsdale, Barrington and the North Shore? Ripping off retail orders is all they know. They couldn't possibly survive in an all-electronic level playing field environment. They must...

Until storage capacity returns at Cushing paper traders are going to avoid the front-month WTI CL (currently June20) like the plague. During the week of expiration, only those capable of taking physical delivery and access to storage will be trading Jun20...so there should be thin volume in...

That figure ($120K) is probably at least double today. HFT is a race to zero, and its impossible to keep up with the big boys (Citadel, Jump, Optiver, Susquehanna) who will always outspend and always be faster than you. Although low latency helps, my trading system, which is part automated...

Yeah. I think Jun20 volume will be thin going into the final week of expiration. They should start using the second month (currently Jul20) as the widely quoted contract for WTI when there is only a week left for Jun20 and/or as soon as when the 2nd month volume equals or exceeds the front-month.

The IVs have been completely justified, given CL's ranges and velocity of the moves. The IV has actually been trading at a discount to realized/historical vol, so it has remained bid despite trading, by far, at all-time high levels. The futures trading negative has completely changed the way the...