the qg's are whiched in that they're $25 per penny move or $2500 a dollar. the majopr shorting coming of gas and oil emini's is 2 lousy months out which make sthem deadly if wrong. actually the msot time is about 6 or 7 weeks as the next months contracts don't come out till this months are a few days or weeks old. i bought one contract at fridays close as this selloff is as which as i've ever seen in a commodity in such a short period of time
Yes, I bought one on Friday too: 8.825. I looked back over six years of NG trading--the worst short-term drop I could find. I'd love to trade a more distant month (April, at least). We'll see how goes next week.
Quote from niceneasy: i hate nymex and i hate i/b. please bear with me here guys. if i buy 1 qg at 447.00 - what am i buying and how much does it cost? nymex quotes mini as trading size 2,500 million British thermal units (mmBtu) with minimum contract size of 50 contracts??? sow how does this =$447.50 or is one contract 100*447.50??i asked i.b and they basically told me to fuck off... Did you mention that you hate them in your email? Hard to imagine that they wouldn't point you at the (simple) answer. In general, the way to find out the answer to these types of questions is by right-clicking on the market data line in TWS and choosing Contract Info->Description. The Multiplier is the key. For every point move in price, this is how many dollars (or other currency for foreign-denominated products) you win or lose. In this case, I show QG/NYMEX/Feb06 at 9.32 currently in TWS, with a multiplier of 2500. You win/lose $2500 per point, and the contract notional value is $23300. Not sure how you got 447. Maybe a data error.
i still cant figure it out.... if i want to participate in the commodity natural gas through i/b - how do i do it? id like to participate with a very long time horizon. i looked at some of the natural gas equities but they are trading at googlesque type multiples and not nescessarily correlated with the commodity. you can't buy qg the index. and the futures only go two months out. any suggestions?
or go to right side of home page, black bar. Click "Contract Search". Type QG in symbol field, contractType=futures. Click down through the results and you get all the contract data including the 2500 multiplier, tick increments, hours, etc http://www.interactivebrokers.co.uk...ite=IB&action=Top Search&symbol=&description=
Thanks for stepping up and attempting to answer my question. However - my question was - how can one participate/speculate in the commodity natural gas for a long term hoirizon through I/B? I think the answer is.... you can't. If you cant purchase the index. And the futures only go out 2 months? Am I wrong? Are there any equities in natural gas that correlate with the commodity? Anybody? I am seeing long term value if i can pick up some BTU's in the 6$ range and hold them till im old (older). I am at wits end - any insights from IBJ or other would be appreciated. Thx nne