Stuck Limit Up?

T

trader99

Have any of you guys been stuck limit up? I was making money long lean hog futures(HE symbol on IB). Then I decided to be clever and short. And now it's limit up. fck! And there's nothing IB can do. I can't get out.

Really scared now. I forgot or hadn't realize that limit up can happen. In index futures it rarely happens.
 
trader99 said:
Have any of you guys been stuck limit up? I was making money long lean hog futures(HE symbol on IB). Then I decided to be clever and short. And now it's limit up. fck! And there's nothing IB can do. I can't get out.

Really scared now. I forgot or hadn't realize that limit up can happen. In index futures it rarely happens.
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December contract is still trading, not limit up.
Can use to hedge short Oct. position.

***Watch the DOM on Oct. to see if more orders are piling up @ limit or being reduced. Might come off limit since other months not @ limit.
 
The only practical things you can do is a) buy a call option for the same month; b) buy a future in a contract month that is not limit-up.

Both of these methods are imperfect and will only limit some of the future damage, since options cost $$$ (especially now) and a different futures contract month will not be perfectly correlated with the current month.
 
Bum said:
December contract is still trading, not limit up.
Can use to hedge short Oct. position.
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Thanks! Are you sure it's not limit up too? Because I'm afraid to enter now... And prices are not moving..
 
trader99 said:
Have any of you guys been stuck limit up? I was making money long lean hog futures(HE symbol on IB). Then I decided to be clever and short. And now it's limit up. fck! And there's nothing IB can do. I can't get out.
More...

What month are you stuck in? I can see active trades taking place in Oct and Dec months via Time and Sales.
 
drm7 said:
The only practical things you can do is a) buy a call option for the same month; b) buy a future in a contract month that is not limit-up.

Both of these methods are imperfect and will only limit some of the future damage, since options cost $$$ (especially now) and a different futures contract month will not be perfectly correlated with the current month.
More...

ok. oh sh*t! Dec 2019 is running away. I'm gonna get fck in Oct when it opens up. Stupid me.
 
ffs1001 said:
What month are you stuck in? I can see active trades taking place in Oct and Dec months via Time and Sales.
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really? I'm in Oct. I called IB trading desk. They said they can't let me out. And TWS wouldn't let me buy back. wtf? what broker do u sue that let you trade?
 
oh shit! I bought Dec futures to hedge then it dropped. Got out at a loss. I will just sit through this one. Unhedged. Hedging is not so simple.

Hopefully Dec will drop like a rock so it will mean that Oct will drop too ?
 
trader99 said:
really? I'm in Oct. I called IB trading desk. They said they can't let me out. And TWS wouldn't let me buy back. wtf? what broker do u sue that let you trade?
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Place a limit order @ the "limit up price" and you might get filled.
When price is locked @ limit, there are often orders being filled @ the limit price.
 
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