Just curious. I did research on the CBOT website but I was hoping to find somebody who actually traded these things either electronically or in the pit. It's a longshot but what the hell?
I was in the option pit for about 6 months. I was only a clerk though. I was offered quite a few trading positions though. rtharp
Any info is appreciated. Is there enough volatility and price movement on these things for intraday trading? Anything I should watch out for? Do certain days really affect these things (fed meetings, consumer confidence reports, etc)? And why didn't you take the trading positions Robert? I'm sure you're doing well now but I've heard some wild numbers about market maker salaries!
They are definitely tradeable intraday. You are going to need very cheap commissions, and will have to get a broker who can do great executions. Why didn't I take some of the trading offers on the floor. Well for one I hated the cold weather. It's ok to visit but I like San Diego, or Arizona (where I am now). The next reason is that the futures pits are eventually being phased out to electronics. It is being fought but I didn't want to put all my effort into something that wouldn't be around in a few years. The trading style didn't fit me that DT trading does which was my financial backer. I don't want to own 70 different options and figure a ton of math. The next reason is I knew eventually I would be trading my own hedge fund -I'm well connected and have plenty of offers when I am ready----- Paul Tudor Jones makes 100 million each year for his salary % of the returns that his fund does. There are no floor traders who make anywhere near that unless they own a brokerage firm. Finally the opportunity off the floor to trade hundreds of markets is more to my liking that one security. There are times it is great to be in the pit but 80% of the time it isn't that great. rtharp