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Yeah and you could have gotten kicked in the nuts had it gapped down lower.

Fun Friday eh guys? I personally think it'll become clearer and clearer that we're already entering into a recession - regardless of what all the "great job!" and other puff numbers show. Gotta wonder what the Fed will pull out of the hat this time. If they raise in Dec, which of course they...

Yep!

Out 10 lots (1.41 avg) of CLH16-CLF16 @ 1.87, 6 left on. This spread has done pretty well for me with good trending and not a lot of heat. Can't say that for many of my outrights.

He was talking about the other guy who was giving me shit for the notation in which I used to describe my VX spread. Some of us trade many different types of spreads and have settled on long or short leg1/leg2 meaning +leg1/-leg2 or -leg1/+leg2 respectively. IB further complicates this by trying...

Now begins the levelling game because everyone is aware and probably plenty are waiting - which means others may be waiting for those who are waiting. :-)

Wow I thoight for sure the market would mindlessly rally today. I'm quite surprised to actually see straightforward price action but I'm still hesitant to call this the real end of the road after being screwed over countless times in the past.

Closed a short at 2068.5 (10pts or so), got long at 2069 at start of Asian session, see one more possible leg up to 2090. Total shit show.

I think the point here is that you shouldn't even trade them before looking up their holdings. They're not what retail typically thinks they are.

Added another 4 lots yesterday at 1.66, current now 1.75. Definitely thinking about taking some off the table at either 2.x or as the front month nears as I don't think I want that front month exposure in the spread.

He's got those psychopath eyes too.

I have a sugar fly open right now but one thing I'll mention is ICE has no native fly support - you'll have to use 2 calendars which means you may have a small amount of slippage. Other than that it's trading like anything else. I think a lot of us attempt to use seasonality and other measures...

Well I guess my point was that it sets itself up for a scenario of crowdedness and the usual line of predatorial large traders who show up for that.

I wouldn't be surprised if the majority of volume there is coming from spread positions.

Are you seriously attempting to call me out because a spread was stated one way for the universe that doesn't use IB and then stated another way in IB parlance even though they're both completely equivalent? Do you not understand that there's not even a standard on how to state spreads in an...

Heads up sugar people, WSJ has an article on it (meaning here comes the dumb money): http://www.wsj.com/articles/hedge-funds-load-up-on-sugar-1447114535

Seems like this is the end of the line for now. If we rally out of here and break new highs then there's really no connection to reality whatsoever.

Wealth *creation* ? That's seriously debatable. Zero actual wealth was created as a result of QE and ZIRP. Lots of it was transfered though.

Still in CLH16-CLF16, up to 12 lots now, average @ 1.32, presently at 1.71. Probably gonna have to start thinking about lightening soon as H becomes the front month on the 20th.

Yep, still holding. I'm actually short via +nov/-dec due to trading it through IB, but the results are the same (30-40 ticks or so in favor).