Limit Down in ES ?!

http://www.cmegroup.com/trading/equity-index/files/EquityIndexPriceLimitGuide.pdf

Volatility is awesome. Love it!

 

Unless buyers come back before open, expect a nice gap down..........anyone's guess after that.

Stops get tripped, margin calls means more selling - then?

Look at the sellers vs buyers below.

Steve

 

How can there be 21 contracts sitting on the bid? Shouldn't those get hit instantly?

EDIT: I guess those are below the limit?

 

SPY is down 6.75% but is trading quite normally. maybe the open wont be so bad

 

They are sitting at the bid below the limit down price - so no, that bid cannot hit.

 

21 Bid at 855.00. System does not currently allow any trading if price less than limit 855.25.

 

Its crazy that anyone would sit on the bid one tick below the lock limit - once the market opens you know its going to shoot down even if just for a moment.

 

spy now down 7.4% and continues to tank

 

SHORT covers resting hoping for an immediate open fill.

 

Good point, watch the USDJPY is has been trading in lock step with the Dow. Check out a chart overlay.