The reason that stocks fell to .01 Thursday is because someone tried to take delivery on an ES contract. What did they get by the way?
Alright I set my crack pipe down for a min... Obviously I'm not being serious, but.. I know in futures, you own a specific amount of crude oil when you buy a contract of it, but what about the index markets? What do you own when you buy them? That's what I find so interesting is I can't actually figure out what I am buying or selling. It's like I own some vapor coming out of a humidifier and I'm saying the price goes up by 500 to 1,000 dollars each day.