Oops

[schizo]

Spread will be less in regular hours. How much less i dont know.

If its $0.1 then he still starts out $700 in the whole.

Dude, not for CLVM!! We're currently trading May contract. He's trading the October expiry.

 

[schizo]

but do you need two accounts?
https://www.elitetrader.com/et/threads/oops.342730/

I knew it all along. This guy is a flake.

 

[southall]

Dude, not for CLVM!! We're currently trading May contract. He's trading the October expiry.

Volume is low for sure, but im not sure how wide the spread will be

 

[Overnight]

Dude, not for CLVM!! We're currently trading May contract. He's trading the October expiry.

He's also getting reduced margin on the Oct Expiry, by about 900 bux worth.

(Sorry, I'm all about the margins, heheh)

 

[Overnight]

Oh, I get it. He must thought futures was like options! He thought he was deep-out-of-money options. Man, you are toast.

You're kinda' not getting the point of futures.

 

[farmerjohn1324]

Oh, I get it. He must thought futures was like options! He thought he was deep-out-of-money options. Man, you are toast.

What price do you think oil will be in October?

 

[Overnight]

Guys, revisit this thread on Monday morning when there' volume going through, and an open order book. Else we're all just spitting in each other's Cheerios. I understand the OP's logic.

 

[schizo]

Volume is low for sure, but im not sure how wide the spread will be

Only reason why the spread is so wide is because of low volume. Look at the chart below. There's hardly no action. Why would you even consider trading it? Unless, he's absolutely sure the price will advance higher until October, it would be impossible to get out without a major slippage.

 

[farmerjohn1324]

You haven't watched the future markets a lot during halts, pre-open and closes, have you. That is what the ladder looks like at times like this. Sunday night it will be right as rain. The settlement price is all you have to concern yourself with, because that is what they calculate your margin on. But you said margin is not a worry for you. So all good I guess.

Margin isn't a worry unless it causes me to get stopped out at 28 instead of seeing it all the way back up to 50.

 

[Overnight]

What price do you think oil will be in October?

Exactly. That is the mindset of a speculative swing trader. I think @schizo is having trouble with the idea because he has been flipping long and short in daytrading a lot lately. It is a rough business going from that mindset of ultra-short-term scalping, to ultra-long-term swinging.