Can this be right? I'd happily take 600k shares at $1 if I were willing to buy 1 share at $600k. You must mean sell.
it was an order to SELL not to buy which makes more sense, btw. if he had put in a limit order to BUY @ 1, it would not have gone thru. i was trading nikkei that night. the index futures dumped about 300 points in a matter of minutes it was INSANE i was too terrified to enter a position. i just watched it with my jaw on the desk
That one I can answer... You absolutely must place limit orders or else get really lousy fills. Even with wide limits, sometimes you'll get incredible fills, other times really bad. Avoid lumber. Wheat is okay as long as you're near the money--the further away strikes are very difficult to get reasonable fills on.
So in order to do this, I'd need to call down to the floor and get a price first right? It must help to know a local or broker really well.
Was just going over this thread and wondering if the volume had improved at all in either Wheat or Corn since the thread was started on the machine vs the pit .... I'm looking just to start with smalls in both for right now (5 lots) was just curious if I could get in out without too much slippage.