Massive displayed size in ES!!!

Discussion in 'Index Futures' started by gmst, May 13, 2013.

  1. gmst


    Anyone has any explanation?
  2. gmst


    Last time I saw a displayed size of 8000 cars on ask was few months back - the size was displayed at 1496 or so = 150 in spy. That day price kept moving up and participants gobbled that size within 15-20 minutes.

    Today is 2nd instance I have seen such large displayed size. However, opposite reaction.

    Maybe today will set a swing high? or maybe even an intermediate high that will be defended for months??

    I don't know. Maybe I am drawing conclusions where probably there is nothing to draw from a swing/intermediate trading perspective :)
  3. emg


    if u subscribed to the Wall Street Journal which is $25 per month, u will have the answer

  4. 95% of WSJ subscribers win, they just win!
  5. r-in


    $25! You need to call them and pay less. I've had it for years and I've never been at $25. Not a big deal I guess, but I am a certified cheap ass. :D
  6. 11,000 is a typical pairs conversion when dealing with a 3rd party via sovereign fund matching 2 different commodity baskets.


    this information should make your rich!!!

    remember, price gravitates to size .... so all the big size will be bought.

    sooo easy
  7. emg, if you really had money; you would not say something as ignorant.

    i do get the feeling you are an old failed trader...(besides additionally odds on a fatso) wjs 6 day a week print edition costs me in the hundreds a yr. i probably should call to negotiate.
  8. gmst


    Anyways before our troll emg posts more garbage on this thread and destroys it, here is my theory:

    Today's size was different from the size of few months ago. Few months ago, that size was at a key level (150 in spy) and its presence could be due to hedging some one-touch option, or spy-ES arbitrage or someone wanting to buy at 150 - I don't know. But the point is that size got filled slowly. I saw 8000 contracts getting filled.

    Today on the other hand, when price came back after making morning low, the big size at 1629 level vanished. So, today was definitely not like last time.

    My final conclusion is that huge displayed size at least early in the morning of today at least shows some institutional selling interest at this level. No retail trader has the margin to show 11000 ES size and no small trading firm will have the guts to put so much size on display (even if they have the risk limit). No HFT firm would put that kind of size in ES. So, the market participant behind it has to be some old fashioned fund or bank trading desk. This is why I think there is some institutional selling interest around this level. So over the next few days we might see S&P correct a bit, maybe even fill the gap around 1595 or so.
  9. sorry, but no absolutes in trading. "NO HFT firm.......???" Really, NONE? What is one wrote an algorithm that included this part? Are you sure....NONE? And NO small trading firm, even one with a massive error....NONE? NEVER? Are you sure?

    we must open our minds to everything.....

    I think it was N. Korea.
  10. gmst


    N. Korea - LOL. Anyways, here is my response:
    1) "NO HFT firm.......???" Really, NONE? What is one wrote an algorithm that included this part? Answer: Algos that are trying to spoof by displaying large size operate on single names not on indices. Also, spoofing happens really fast, the size in the morning today was on the exchange for at least 10 minutes.

    2) And NO small trading firm, even one with a massive error....NONE? Not possible - Yes it could be a fat finger. Thats why I posted the thread so that everyone on ET notices it. Maybe someone will tell us what it was, since I obviously don't know :)
    #10     May 13, 2013