if you have 10,000, this will allow you to buy 2 contracts right, for non-members the margin is 4,000 right? If you shorted 2 at 84 and covered at 80 how much profit would you make on that trade? Besides the monthly nymex fee, how is the contract structured, can you give me an apples to apples comparison with the ym, where every point is worth 5 bucks per contract, how is the light sweet crude contract structured? How much is every point worth? Thanks.
There are two contracts, the full-sized and the mini. The full is 1000 barrels, the mini 500. So for a fullsized contract, the CL, each full point is worth $1000. BTW, two contracts are too many for $10,000 in account equity, no matter what the margin is. Particularly if you are a newbie who doesn't know basic details of the contract. I would echo the previous advice to go to the NYMEX site and learn everything about the contract, such as when it expires, since that is not intuitive. Also pay attention to the weekly DOE inventory stats, which usually are released Wednesday at 10:30.
Welcome Back Bluestreek! I have missed your posts. I have absolutely no idea about your question. I just wanted to say " hello. " ~ stoney