the qg's are whiched in that they're $25 per penny move or $2500 a dollar. the majopr shorting coming of gas and oil emini's is 2 lousy months out which make sthem deadly if wrong. actually the msot time is about 6 or 7 weeks as the next months contracts don't come out till this months are a few days or weeks old. i bought one contract at fridays close as this selloff is as which as i've ever seen in a commodity in such a short period of time
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help - natural gas on i/b
- Thread starter niceneasy
- Start date
Quote from joeyata1:
the qg's are whiched in that they're $25 per penny move or $2500 a dollar. the majopr shorting coming of gas and oil emini's is 2 lousy months out which make sthem deadly if wrong. actually the msot time is about 6 or 7 weeks as the next months contracts don't come out till this months are a few days or weeks old. i bought one contract at fridays close as this selloff is as which as i've ever seen in a commodity in such a short period of time
Yes, I bought one on Friday too: 8.825. I looked back over six years of NG trading--the worst short-term drop I could find. I'd love to trade a more distant month (April, at least). We'll see how goes next week.
Quote from niceneasy:
i hate nymex and i hate i/b. please bear with me here guys.
if i buy 1 qg at 447.00 - what am i buying and how much does it cost?
nymex quotes mini as trading size 2,500 million British thermal units (mmBtu) with minimum contract size of 50 contracts??? sow how does this =$447.50 or is one contract 100*447.50??i asked i.b and they basically told me to fuck off...
Did you mention that you hate them in your email? Hard to imagine that they wouldn't point you at the (simple) answer.
In general, the way to find out the answer to these types of questions is by right-clicking on the market data line in TWS and choosing Contract Info->Description. The Multiplier is the key. For every point move in price, this is how many dollars (or other currency for foreign-denominated products) you win or lose.
In this case, I show QG/NYMEX/Feb06 at 9.32 currently in TWS, with a multiplier of 2500. You win/lose $2500 per point, and the contract notional value is $23300. Not sure how you got 447. Maybe a data error.
i hate nymex and i hate i/b. please bear with me here guys.
if i buy 1 qg at 447.00 - what am i buying and how much does it cost?
nymex quotes mini as trading size 2,500 million British thermal units (mmBtu) with minimum contract size of 50 contracts??? sow how does this =$447.50 or is one contract 100*447.50??i asked i.b and they basically told me to fuck off...
Did you mention that you hate them in your email? Hard to imagine that they wouldn't point you at the (simple) answer.
In general, the way to find out the answer to these types of questions is by right-clicking on the market data line in TWS and choosing Contract Info->Description. The Multiplier is the key. For every point move in price, this is how many dollars (or other currency for foreign-denominated products) you win or lose.
In this case, I show QG/NYMEX/Feb06 at 9.32 currently in TWS, with a multiplier of 2500. You win/lose $2500 per point, and the contract notional value is $23300. Not sure how you got 447. Maybe a data error.
Quote from Kicking:
Since when did they cut the contract size in half ? Used to be 5000 million BTU not long ago.
Notice No. 05-556 / December 5, 2005
Subject: NYMEX miNY TM Natural Gas Futures Contract Size and Fee Change
Commencing with the February 2006 NYMEX miNY TM natural gas futures contract, the contract quantity of the NYMEX miNY natural gas futures (QG) will be reduced from 5,000 MMBtus to 2,500 MMBtus. Launch Procedure for 2500MMBtu NYMEX miNY Natural Gas Futures
* The February 2006 miNY natural gas will not be listed for trading 10 days before the January 2006 miNY expires.
* The 5,000 MMBtu January 2006 natural gas miNY will expire December 27, 2005 at 2:30 PM EST and be delisted for trading.
* The 2,500 MMBtu February 2006 natural gas miNY will be listed for trading on December 27, 2005 at 3:15 PM EST for trade date December 28, 2005.
i still cant figure it out....
if i want to participate in the commodity natural gas through i/b - how do i do it?
id like to participate with a very long time horizon. i looked at some of the natural gas equities but they are trading at googlesque type multiples and not nescessarily correlated with
the commodity.
you can't buy qg the index. and the futures only go two months out.
any suggestions?
if i want to participate in the commodity natural gas through i/b - how do i do it?
id like to participate with a very long time horizon. i looked at some of the natural gas equities but they are trading at googlesque type multiples and not nescessarily correlated with
the commodity.
you can't buy qg the index. and the futures only go two months out.
any suggestions?
Quote from alanm:
Quote from niceneasy:
i hate nymex and i hate i/b. please bear with me here guys.
if i buy 1 qg at 447.00 - what am i buying and how much does it cost?
nymex quotes mini as trading size 2,500 million British thermal units (mmBtu) with minimum contract size of 50 contracts??? sow how does this =$447.50 or is one contract 100*447.50??i asked i.b and they basically told me to fuck off...
Did you mention that you hate them in your email? Hard to imagine that they wouldn't point you at the (simple) answer.
In general, the way to find out the answer to these types of questions is by right-clicking on the market data line in TWS and choosing Contract Info->Description. The Multiplier is the key. For every point move in price, this is how many dollars (or other currency for foreign-denominated products) you win or lose.
In this case, I show QG/NYMEX/Feb06 at 9.32 currently in TWS, with a multiplier of 2500. You win/lose $2500 per point, and the contract notional value is $23300. Not sure how you got 447. Maybe a data error.
or go to right side of home page, black bar. Click "Contract Search". Type QG in symbol field, contractType=futures. Click down through the results and you get all the contract data including the 2500 multiplier, tick increments, hours, etc
http://www.interactivebrokers.co.uk...ite=IB&action=Top Search&symbol=&description=
Thanks for stepping up and attempting to answer my question.
However - my question was - how can one participate/speculate in the commodity natural gas for a long term hoirizon through I/B?
I think the answer is.... you can't. If you cant purchase the index. And the futures only go out 2 months? Am I wrong?
Are there any equities in natural gas that correlate with the commodity? Anybody?
I am seeing long term value if i can pick up some BTU's in the 6$ range and hold them till im old (older).
I am at wits end - any insights from IBJ or other would be appreciated.
Thx
nne
However - my question was - how can one participate/speculate in the commodity natural gas for a long term hoirizon through I/B?
I think the answer is.... you can't. If you cant purchase the index. And the futures only go out 2 months? Am I wrong?
Are there any equities in natural gas that correlate with the commodity? Anybody?
I am seeing long term value if i can pick up some BTU's in the 6$ range and hold them till im old (older).
I am at wits end - any insights from IBJ or other would be appreciated.
Thx
nne