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Phew :-) This is an interesting discussion guys. I'd like to know what people think, and what way they'd go about doing it and any other factors that might have been overlooked so far...

I realise that.... But he's going long 150 Dec too many, to enable him to get long the 150 Jan, by shorting the Dec Jan Spread.

i.e. the liklihood of him being able to sell the excess Dec and therefore scratch is not high. (refering to example 3). Though I do see your point on the SPAN offsets - it's a good one. I work for a broker dealers servicing institutional clients, so I overlooked the buying power issues for...

Hi Bone, If your reply was in reference to mine - I had better clarify what I meant.... I was never saying use automated spreaders, by spreads I mean exchange traded spreads. By 'spread levels' I was talking about the individual levels given by the exchange on the spreads. For example...

I would suggest just doing the outrights. The only time I'd do spreads is if the outright months you are trading don't have good liquidity and then spreads will help you get the volume off at a respectable level. Otherwise by the time you add the commissions on and the potential loss on the...

@ HappyJoe - Thanks for the positive words. @ Bone - That's what I was thinking. I can't seem to find any more exams I can do other than the FSA / NFA exams I've already done, that would help me in terms of trading, but I'm a relatively young guy, with no committments, so for me it would make...

Thanks for the advice HappyJoe. I agree. Just to clear things up, I do have my own 'book' if you will, as I work for a broker dealer. I just wouldn't call 5 lot limits on outrights and more on spreads etc anything to shout about - but just wanted to clear up that I can and do trade, with...

http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html On the 'Quotes' tab you should see a link that says "View Spread Quotes" Should be what you're after.....

Not sure I understand your question?

Thanks guys. Well commodity trading or sales (and potentially a management role in those areas in later career) is probably the direction I'd like to go into. Personally I'm not interested in trading for myself as a local - I would rather a salaried job at a bank / commodity house. It...

Thanks Bluestreek. I'm actually based in London. So you'd advise an MBA over the CFA, based on my circumstances?

Hi guys, I’ve read a few of the qualifications threads, but I would like people’s advice for my particular set of circumstances. So if you could spare a few moments to read my situation and offer any advice that would be great. I work for a broking house on one of their commodities...

I've no idea. Try calling the exchange, they might be able to explain exactly how the price is determined and exactly what is(what isn't) taken into account. All I know is it's the VWAP over the last 2 minutes, and that's good enough for me! :-)

they used to have a committee on the floor that decided the settlement, but now it's done on volume weighted average. it's weighted over the last two minutes and includes the floor and screens, though not sure how they account for the pit volume.

I've given the links to both contract specifications. Comparing them for yourself should tell you all you need to know. If you have further questions after that, then please do ask.

ICE Europe also have their own version of WTI https://www.theice.com/productguide/ProductDetails.shtml?specId=213 But 'CL' is the US version traded on Nymex

http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_contract_specifications.html

There's that too !! :)

Hi. Well I am assuming you're just a small scale regular trader, so excuse me if I'm misjudging you, but my answers are based on that assumption. Yeah, you'd have to store it in your own tank, which you don't have, etc etc. Basically, move past the futures contracts and you have OTC...

I would say this is not possible. Are you asking to take delivery of WTI? If so, you are talking about storing at Cushing. I personally don't know of any brokers that have storage space. Also, what size are you talking? 100 lots (100,000 bbls)? more?