This thread is for discussion of volatility in NYMEX crude futures during RTH (pit) hours. How do floor traders handle (or contribute to) the large swings (10 to 20 ticks sometimes) -- do they trade on even 10t handles and other S/R levels for example, or something along those lines? Most of the volume is in the electronic futures, but the volatility is vastly higher when the floor is open -- it is not clear whether this is due to floor traders or just large traders, floor or electronic, keeping floor hours.
Traders want to maintain "floor hours". It's the same thing in other markets, i.e. bonds, stocks, grains et al. Nobody wants to be in-front-of-the-screen 23 hours per day.
yeah i heard that. from what i understand, they trade mostly via their "tablets" and sometimes they hedge their positions via open OutCry (trader to trader, Instead the old way broker to trader).
They call them tablets because that's what those mini computers are called. Tablet PC's, they usually have a little electronic pen thing that you can write with and a touch screen too.
yes they call them tablets because they are tablet pcs. volume on the floor dried up almost the minute the phys contracts went on globex. the first guy pictured, COCO used to trade heating oil, but that picture looks like the crude pit.
XBOT thanks! Look, It is true that 50% of the Pit hours Volume is made by those floor traders with their tablets??
Why do you homos have those pictures anyways, you should be looking at broads, not overweight oil guys. Floor traders are on the way out anyways, becoming more insignificant as time marches on.