ES Journal - 2019/2020

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trading_jean said:
Actually I knew that you have to be approved to trade the last day of the contract (prove you are able to accept delivery), but reading a post that claimed he bought at $0.1 stating 'free money' made me draw the conclusion without thinking it through. Thanks for making it clear!
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No, this is false you do not need to be approved to accept delivery to trade the last day of the contract.

EDIT: To be clear I am sure some brokers do, but not all do. So, some people saying they traded could be legit. I know for a fact it can be done(that you can still trade it today as retail)
 
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DarthSidious said:
Unlikely. Today was May settlement, and most, if not all retail FCMs require you to be flat by day before. We retails could only gawk at the CL porn today, but thankfully no ability to partake
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I asked TOS and they said if you already held a position they would allow you to hold to the day of expiration but would prefer you close out 1-2 days before. Their platform can't handle limit orders with negative prices though.
 
trdes said:
No, this is false you do not need to be approved to accept delivery to trade the last day of the contract.

EDIT: To be clear I am sure some brokers do, but not all do. So, some people saying they traded could be legit. I know for a fact it can be done(that you can still trade it today as retail)
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OK, wrong again then. :(
It would be logical though, like theapprentice says: what happens if someone holds but cannot accept delivery? Broker sells it last minute I suppose?

Anyway, I will shut up and let you do the talking. :thumbsup:
 
trading_jean said:
OK, wrong again then. :(
It would be logical though, like theapprentice says: what happens if someone holds but cannot accept delivery? Broker sells it last minute I suppose?

Anyway, I will shut up and let you do the talking. :thumbsup:
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LOL, everyone on these boards is wrong at some point on something, if they say otherwise they are a liar. I am not sure exactly, I think it depends on the broker, but for a specific example they closed someone out and liquidated them when / as CL was approaching 0.

No, it was not me I don't trade CL currently and haven't for a while.
 
trdes said:
No, this is false you do not need to be approved to accept delivery to trade the last day of the contract.

EDIT: To be clear I am sure some brokers do, but not all do. So, some people saying they traded could be legit. I know for a fact it can be done(that you can still trade it today as retail)
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Are you saying there are brokers who allow physical delivery of crude, especially to the retail traders? That's something new.
 
schizo said:
Are you saying there are brokers who allow physical delivery of crude, especially to the retail traders? That's something new.
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Someone was questioning whether people could trade May CL today. The only thing I am saying is it is 100% possible to trade it today as retail with some brokers. Some warn you and some ask you to close it by "X" time and if you do not they auto liquidate the position so that physical delivery does not need to take place.
 
syswizard said:
Of course, but cutting production now will help stabilize prices.
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Too late IMO. They're just gonna roll over the trouble to June contract, which will fall down into the 10 level soon. There's no quick fix for this until they reopen the economy and people start driving and flying.
 
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