Trading issue: GC aug contract with exp 20190828 - phys delivery rules

N

Nilats

Hi, apologize if this is something stupid.
But I been running a new algo on NYMEX GC on Aug contract exp 2019-08-28 for past fews weeks.
Tonight I was hit with being BUY order being rejected due to Interactive Brokers phys delivery rule that cuts off any long order for this contract on 7/30th!

I was like OK, I go next contract with exp 2019-09-26.
But this contract is hardly liquid. Impossible to trade.

Do all brokers have this rule? If so, how are you supposed to trade GC now to get normal volume? Or is this just IB rule?

:banghead:
 
Nilats said:
Hi, apologize if this is something stupid.
But I been running a new algo on NYMEX GC on Aug contract exp 2019-08-28 for past fews weeks.
Tonight I was hit with being BUY order being rejected due to Interactive Brokers phys delivery rule that cuts off any long order for this contract on 7/30th!

I was like OK, I go next contract with exp 2019-09-26.
But this contract is hardly liquid. Impossible to trade.

Do all brokers have this rule? If so, how are you supposed to trade GC now to get normal volume? Or is this just IB rule?

:banghead:
More...

Next active contract for GC is Dec 2019.

You should have switched a long-term trade like that some time ago. Welcome to gold, the snappy alligator of futures at the CME.

You have two days to comply on Dec, or you will be Borg. Resistance is futile.
 
Thank you, Sirs. It appears to be GCZ19 with 2019-12-27 exp in my world. Seems indeed alive. I need to learn my futures better :)

I was in fact looking at CME site trying to understand the details. Live is more simple with ES emini..
 
Nilats said:
Thank you, Sirs. It appears to be GCZ19 with 2019-12-27 exp in my world. Seems indeed alive. I need to learn my futures better :)

I was in fact looking at CME site trying to understand the details. Live is more simple with ES emini..
More...
Put a reminder on your calendar to stop trading December before 11/27.
 
Robert Morse said:
https://www.cmegroup.com/trading/metals/precious/gold_product_calendar_futures.html

If you do not want a delivery notice, you have to be flat before 7/30. At Lightspeed, you would not be blocked today but you would be forced to close by tomorrow morning unless you want to take delivery and have the funds in your account. We try to avoid all physical delivery unless you are a hedger.
More...

I run into this issue awhile back a hard way on a manual test position..got force closed with IB early this year..but forgot to check well enough on the rules... Is Lightspeed faster than Rithmic or CQG for order delivery?
 
Nilats said:
Thank you, Sirs. It appears to be GCZ19 with 2019-12-27 exp in my world. Seems indeed alive. I need to learn my futures better :)

I was in fact looking at CME site trying to understand the details. Live is more simple with ES emini..
More...

Mods, I am really sorry about this, but I cannot help myself...

Nilats, to be honest, I think GC is even easier to understand than the equities. F Equities, the king of futures!


I'll take the penalty if you deem it so, mods, but I just cannot resist making my point this way. But hey, at least I did not type it! 1st amendment with video? Teehee!
 
Overnight said:
Mods, I am really sorry about this, but I cannot help myself...

Nilats, to be honest, I think GC is even easier to understand than the equities. F Equities, the king of futures!


I'll take the penalty if you deem it so, mods, but I just cannot resist making my point this way. But hey, at least I did not type it! 1st amendment with video? Teehee!
More...

Sometimes, I miss certain things and it takes me ahwile to get them, but good thing I eventually get them :) So, it looks I been trading this August contract since beginning of July... it was oscillating pretty good though!

Part of confusion is when I check contracts under IB tws software it does not show me December one it shows AUG, SEP thats about it..
 
Last edited:
You must log in or register to reply here.
Back
Top