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I have been on the WRONG end of that luck in the past and the exchanges nor my brokerage firm will do anything about my "fat finger" mistake with order entry.
The trade was at 3:53 am EDT. I wonder if it is a IB trader that hit his margin limit and IB did a market order to get him out.
I saw that and went and looked at how often that happens. Very rarely.
If you place orders to sell things like that at OX they remove the margin required from your buying power when the order is placed. So you really can't do that there.
The weather is the seasonal tendency that is not normal. When that gets back to normal then so will the futures. High temps for the day will not be below 40 in the high NG usage areas for much longer. Certainly not in May.
Also the amount of NG production (horizontal fracked wells) that can be turned on if prices get too high is huge. Also coal will start to displace the NG that displaced coal when NG prices got low. These things will keep a lid on NG prices for the foreseeable future.
The only thing that will change this is more NG exports or increased usage of NG by trucks, cars trains etc. And that will take a years to happen.
Hello,
I am new to this forum and thread but somewhat experienced trader coming around to using this strategy for part of my portfolio. However I have few questions that I would appreciate help from Ron/others.
(1) What part of account is allocated to one commodity? Assuming account of 100k, and say a position of selling June 75 puts of CL for 5 cent at 300 initial margin - how many contracts will be sold?
(2) Where do I get delta of option? all free quote services that I know only give prices of options - not greeks...Also is there any screener that one can use (like many stock options screeners) for future options?
(3) Any adding to positions is done or not when it is going wrong way? If so how much? like after selling June 75 puts at 5 cents, Crude drops 2 dollar and now the same put is selling at 8 cents. The premise behind trade crude holding/going up seasonally is still valid and so why not use better prices? but then there is also higher risk and you are exceeding your allocation....
(4) Does any one uses rolling over of options taking heat? Rolling to further month/strike?