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Yea, I don't see Viola finding any reason at all to bid Knight. Virtu is mainly futs/fx shop.

Great call

Losses are almost 4x 2011 net income. Ouch. Citadel to the rescue?

From IB: Wed Aug 1 14:24:37 2012 EST We have been notified by the exchanges of potentially irregular trading activities for orders involving multiple securities and exchanges taking place between approximately 09:30 and 10:15 EST today. This activity is currently under exchange review...

At first I thought this was another attempt by ICE to kill the OTC market, but I don't think it will do much at all. Just renaming their swaps to avoid regs. CME's OTC products are listed as "futures". The products officially designated "Cleared Swaps" by CME have 0 open interest across...

This is the only tradeable SHLD debt (that I could find) on IB:

1 ES = 500 SPY It's probably the most well kept arbitrage band in existence outside the FX markets. SPY is cheaper to trade in terms of slippage and bid/ask spread, however ES is more advantageous from a leverage perspective. http://bit.ly/Oif3Q4

If the heat continues, NG is a good buy through August/Sept.

I heard 2 rumors: 1) One or both of two large US banks lifted ~10,000 lots on the screen in a matter of seconds. 2) A 700 lot order got fat-fingered to a 7,000 lot order. Neither of which have been confirmed.

So being short 3 front month minis will be affected how?

Live spot WCS

Source? Those discounts are no longer around. Bakken is only about a $5 discount to WTI, West Canada grade is trading around $19 below WTI, but it's heavy and sour, apples to oranges. Instantly? Do you have any idea how long it takes to get a pipeline system designed, built, and flowing?

When Euro Crisis, then fiscal cliff, then weak dollar. Oil in USD terms will be more expensive tomorrow than it is today. Especially given the fiscal cliff. Might as well short gold as well. You're short 3 front month minis but your position is long term? You would be better...

I think he means option spreads - call spreads, put spreads, fences, etc. Not the bid/ask spread.

You clearly misunderstand futures markets.

Yes, USO acts as a proxy for the front month. However when the front of the curve is in contango (as in now), rollover costs have to be considered for long term holding.

Wait till you start dreaming in Greek.

I don't, but I could set you up w/ one. We have an IB desk at my firm. PM me.

Expensive but quality. http://www.orc-group.com/Products-Services/Volatility-Trading/Products/Orc-Trader-for-Volatility-Trading/

www.livevol.com