mini Gold and delivery

Discussion in 'Metal Futures' started by Kicking, May 29, 2003.

  1. what is the first notice day for the front month? where do you find this info? I can't find it on the CBOT website.
     
  2. FinStat

    FinStat

    did you try:

    knowledge center > contract specs > metals

    on the cbot site??
     
  3. yeah it doesn't say anything about the first day notice. To be honest I didn't even know what the first day notice was. I assumed as long as you offset your position before the last trading day there would not be any delivery (in non cashed settled contracts like Gold and currencies). What shoud l I know about the first day notice as a position trader?
     
  4. josbarr

    josbarr

  5. garbo

    garbo

    I've been trying to figure out the same thing.

    I think, in any case, it is time to move to the August contract if you're trading YG. Today's volume so far in YG is as follows:

    YG (June) = 27 contracts
    YG (August) = 360 contracts

    I imagine if you have a broker like IB that doesn't allow you to take delivery, you could get totally scrawed if you hold the June YG much longer since the liquidity is going down now and IB is going to liquidate your position something like 3 days (check this to make sure) before the last day on the contract.

    This is just my opinion so watch out. I think rolling over to the August contract is safe, however, in any case.
     
  6. Why is the July contract so illiquid ? August has the tighter spread.
     
  7. garbo

    garbo

    The pattern seems to skip every other month, e.g. April, June, August, etc.

    This is similar to the e-minis (NQ, ES -- skip every three months) except there are no contracts in-between with the e-minis.

    It really makes no sense that there is a July contract. It seems like a trap for the unsuspecting, especially given the physical delivery issue...
     
  8. e-mini's are for small time speculators and people wanting to hedge their personal portfolio's, there really is no need for any of them to be physically settled, I guess that is just tradition.
     
  9. IB wont even let you trade the YG when you are close to exp. I tried to trade both the June YG and ZB last week and missed a great trade because I couldn't place the trade. It took me a while to figure out why I got the (restricted Trade) message and I didn't have the next contracts up on My TWS. I will switch contracts early enough from now on. Couldn't believe they would do this with over 2 weeks left but I guess IB protects us from our own stupidity. :mad:
     
  10. IB wont even let you trade the YG when you are close to exp. I tried to trade both the June YG and ZB last week and missed a great trade because I couldn't place the trade. It took me a while to figure out why I got the (restricted Trade) message and I didn't have the Sept. contracts up on My TWS. I will switch contracts early enough from now on. Couldn't believe they would do this with over 2 weeks left but I guess IB protects us from our own stupidity. :mad:
     
    #10     Jun 2, 2003