CL Question

Discussion in 'Commodity Futures' started by BlueStreek, Apr 18, 2010.

  1. Does Cl trade on Saturday in some venue or something?

    The reason I ask is that the closing June contract was like 84.42 and ask was like 84.46 but it closed at 4:15 Friday 84.4ish and today both the may and june contracts are higher by some 20 plus cents, how is this occurring, and in what venue? Thanks
  2. doesn't trade on saturday
  3. Surdo


    Phrases such as "like", "ish", and "some", are not very precise and really are not used to refer to markets.

    You need to use exact prices and tell us what platform this ghost trading is occuring on, unless you see trades ticking in times and sales, I would not worry too much about this!

    CL does not trade until Sunday night on any venue.
  4. Time and sales 16:14:59 cst 4:14:59 pm closing price 84.42, yet i opened up cme today and they had june and may contracts both up from friday`s close, ib also had quoted closing prices 84.67 for june, and much higher than the observed close for cl may contract as well for friday`s close at 4:15.........

    somehow trades are getting filled outside of normal trading hours, causing the close to be adjusted after the fact, this was a pretty big difference up .20 plus cents if you were watching price action at the time and it couldn`t get anywhere near those levels during the last minutes of trading on friday.

    if you don`t know, then don`t comment.

    if you can explain this price dislocation, it would be greatly appreciated as this is isn`t the first time I have noticed this occurrence.
  5. Surdo


    Settlement or "official" close is at 2:30 ET, when the pit closes, GLOBEX electronic trading continues, thus explaining the price difference, all of this information can be found on the CME website!
  6. thanks,

    I am glad if that is all it is, that was my most likely guess, (i expect this with the official cme settlement price).

    But the fact that my ib charts show one price at 4:15 on friday`s close, and then sunday night, the price reverts back to the settlement close, not the actual finishing price is a little disconcerting.

    as i am only interested in the actual closing price at 4:15 the last contracts traded for the week.

    but thanks for your response, it was helpful. regards
  7. Surdo


    No problema, I did not mean to be so harsh, I was brought up to trade military style!

    I am sure it is a Settlement pricing issue.

    If you are trying to backtest or run MP, just change the hours on your back test to RTH!

    Good trading