Some thoughts on negative oil price

I can recall about four times where an electronic market was swept. Two of those times it took the market some length of time for the order books to populate (if you want to call it that) - and it was super thin and full of gaps. Point being - if he had on 212 cars at one cent, and then the market was swept and the best bid was (-$3.00) and he hits a 10 lot - he's marking down $636K at that point in time... He is going to be paralyzed with fear and disbelief.

VolSkewTrader said:
Ironically, if IB had their shit together he probably would have panicked to sell out of everything as soon as he saw a negative print, after thinking he just bought the absolute low a few seconds earlier.
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bone said:
I can recall about four times where an electronic market was swept. Two of those times it took the market some length of time for the order books to populate (if you want to call it that) - and it was super thin and full of gaps. Point being - if he had on 212 cars at one cent, and then the market was swept and the best bid was (-$3.00) and he hits a 10 lot - he's marking down $636K at that point in time... He is going to be paralyzed with fear and disbelief.
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I remember the expiring May20 bid/asks being rather thin with low volume that day. A 10 lot is probably the most he could have gotten off at (-$3.00). Panic and despair would have definitely overwhelmed him as he sold them all the way down to -$40.00

Many trading careers have abruptly ended when someone decides to suddenly trade 50 to 100x times their normal size because he thinks he sees something that is too good to be true, and then decides to go for the homerun.
 
Handle123 said:
Means huge opportunities to my style of trading, don't care about the whys, hedge correctly, last trade is best trade. Automation does not take into account of storage or huge unemployment, USA history shows us when times very bad, few make real big money cause they took risk accessed opportunities most won't for some reason.

Don't want to buy crude futures, UCO looking for 1000+% returns.
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Am up over 100% so far and holding on, several buddies bought too.
 
https://dictionary.reverso.net/english-definition/economic+mismanagement

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VolSkewTrader said:
I remember the expiring May20 bid/asks being rather thin with low volume that day. A 10 lot is probably the most he could have gotten off at (-$3.00). Panic and despair would have definitely overwhelmed him as he sold them all the way down to -$40.00

Many trading careers have abruptly ended when someone decides to suddenly trade 50 to 100x times their normal size because he thinks he sees something that is too good to be true, and then decides to go for the homerun.
More...
%%
THAT maybe part of the reason Hurricane Hydrocarbons [stock]changed its name from bankruptcy:D:D
 
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