Oops

farmerjohn1324 · Apr 3, 2020

schizo said:
A spread of $3.40???????

That's impossible.

Overnight · Apr 3, 2020

farmerjohn1324 said:
The margin requirement doesn't bother me.

It's this ridiculous bid/ask spread.

Yer looking at the after-hours ladder print, pay that no mind. The volume on the contract is too high for there to be a spread of that magnitude when CME is open.

schizo · Apr 3, 2020

farmerjohn1324 said:
CLV20

How is it even possible to CLV20? Not that I don't believe you, but why would you trade something that expires in November? There's no friggin' volume!!

southall said:
Thats not his entry price, he could be £23940 in the hole.

Seems like be bought 7 contracts.

Thanks, I've misread it. However, it still makes no sense. I've been trading CL for a long time and I've never seen a spread that he mentions.

farmerjohn1324 · Apr 3, 2020

Overnight said:
Yer looking at the after-hours ladder print, pay that no mind. The volume on the contract is too high for there to be a spread of that magnitude when CME is open.

You mean NYMEX?

Overnight · Apr 3, 2020

Right, Markets are closed. That is what happens to the order book. Here's MNQ when market is closed...

Don't sweat it, man.

southall · Apr 3, 2020

Why did you got out that far.

The June contract is pretty liquid.

farmerjohn1324 · Apr 3, 2020

schizo said:
How is it even possible to CLV20? Not that I don't believe you, but why would you trade something that expires in November? There's no friggin' volume!!

Thanks, I've misread it. However, it still makes no sense. I've been trading CL for a long time and I've never seen a spread that he mentions.

My logic was that I may want to hold it until the economy fully recovers. If I have a contract that expires sooner, I might not have time if I chose to do that.

Overnight · Apr 3, 2020

farmerjohn1324 said:
You mean NYMEX?

Yes, the CME is Nymex, part of the Globex family. That includes the CL.

farmerjohn1324 · Apr 3, 2020

Overnight said:
Right, Markets are closed. That is what happens to the order book. Here's MNQ when market is closed...

View attachment 223973

Don't sweat it, man.

So it's not because it's expiring in October and there's not much volume yet?

Overnight · Apr 3, 2020

farmerjohn1324 said:
My logic was that I may want to hold it until the economy fully recovers. If I have a contract that expires sooner, I might not have time if I chose to do that.

So yeah, you've just become a dyed-in-the-wool swing trader. Welcome to the family! You have until Oct 19th for the position to get into profit before you have to close it. :-)

Oops

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