KOSPI 200 Insane Bid Size

R

RedDuke

I have never seen anything likes this. Best bid size started to grow exponentially, eventually topping 20,000 contracts. (roughly 2.1 billion USD). The market briefly bounces of that level for few ticks, then tested it and broke it for 2 ticks, then reversed and shoot up 20 ticks in under a minute.

Never seen such size on KOSPI. Any ideas?

Regards,
redduke
 

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Last three weeks have been really really weird, its like unlimited buying volatility has collapsed, its like it cannot be allowed to fall. I trade the options Implieds are really low and realized volatility is 8%

Very very strange I believe this week is a holiday in China?

Looking at the KSE website yesterday "Government" was a nett buyer of 1099 contracts?

Looks like its being bullied
 
I have also notice lately that the general correlation to HSI / SPI is not there .... I don't believe in any trading conspiracy theories... but that size bid sure makes me think twice
 
I thought is was golden week in China, I was looking at the time and sales and it was weird like 244.9 was a very very popular place to buy it. Volume peaked at about 21 000 contracts and now its trading below that, I also noticed that it all occurred within 10mins of the open, I always leave it for half an hour at the start just to let it settle down, I do know the exchange runs some kind of auction just before the open, but I have no idea how it works, I will watch this to see if it happens at the open.
 
Incredible they have held it at near 245 for the whole session, even went into an arbitrage, sell the future and buy the stocks. Means some one has lots and lots of money and thinks its too cheap. He will keep hammering the bid!
 
Quote from dont:

Incredible they have held it at near 245 for the whole session, even went into an arbitrage, sell the future and buy the stocks. Means some one has lots and lots of money and thinks its too cheap. He will keep hammering the bid!
More...

Hi Dont,

How did you come up with arbitrage observation?

Thanks,
redduke
 
Quote from dont:

.....244.9 was a very very popular place to buy it. Volume peaked at about 21 000 contracts ....
More...

I was very tempted to buy once the price bounced off 244.8, but there was no signal based on my rules, so I stayed on side line. Did not make any trades yesterday.
 
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