Well I guess my point was that it sets itself up for a scenario of crowdedness and the usual line of predatorial large traders who show up for that.
Out @ -11. That was a good long term trade. I was considering letting half the size run but hogs are already oversold and this spread at historical levels for a Nov 10th...
Anyone trading cotton I am hanging by a thread lol. Seriously though anyone trading sugar, cocoa, coffee flys on ICE?
Yes. We trade all of these products, not specifically flies though. Do you have a specific interest in softs?
The bulk of my trading at the moment is energy spreading. I am looking to add softs to my repetoire. I prefer spreads with 3+ legs hence looking at flys.
I have a sugar fly open right now but one thing I'll mention is ICE has no native fly support - you'll have to use 2 calendars which means you may have a small amount of slippage. Other than that it's trading like anything else. I think a lot of us attempt to use seasonality and other measures. Myself I also trade the softs outrights. Don't limit yourself to just NYBOT either - London Cocoa and London Sugar also get volume and can be spread against NYBOT (not natively though).
Thanks for the heads up. I usually let the autospreader take care of flys. None of the energy flys are native either - at least I have yet to find one.
Have you sucess in focusing your trading in flys ? @Short FEB16 rapeseed Everything went down and rapeseed is late on the way down
I don't trade a lot of flys but yes they are a good start point in looking at multi leg spreads. I look at and analyse the whole strip and use the native spreads as building blocks. Most of what I do is provide liquidity to others who want to get business done.