nymex light sweet crude specifications

Discussion in 'Energy Futures' started by maxitronixy, May 17, 2009.

  1. hi im new here. errm i m confused to what im seeing in the nymex contract specifications.

    does the nymex sweet crude futures have a contarct time of nine years? 30 months ?

    what i really want to know it for example when you long a contract you have how long till contract expiary? 9 years? 30 months?
     
  2. 30 days only!

    i don't understand this
    from the nymex website
    "Trading Months

    Crude oil futures are listed nine years forward using the following listing schedule: consecutive months are listed for the current year and the next five years; in addition, the June and December contract months are listed beyond the sixth year. Additional months will be added on an annual basis after the December contract expires, so that an additional June and December contract would be added nine years forward, and the consecutive months in the sixth calendar year will be filled in. "

    is there a 36 months, 72 mothns etc contract ?

    or contracts that last years?
     
  3. ignore the part about the trading months in my last post
    that is for the physical dilvery


    this is what i don;t understand about the financial contract on the nymex website

    "Trading Months

    The current year plus the next eight years through December 2015. A new calendar year will be added following the termination of trading in the December contract of the current year."

    does this mean the contract lasts 9 years?
     
  4. The prompt month for crude is currently June 2009, which is about to expire. So there is a june contract, a july, an august, sept, etc etc. each and every month out for 5 yrs has a contract (60 months). beyond the 60 months, you start getting just a june and dec contract out until 9 yrs.

    if you want 36 months out, that is the may 2012 contract, may 2015 for 72 moths out.

    Be careful on the longer end of the curve, there is very little liquidity out there.
     
  5. correct me if im wrong does this mean

    1.(so the june july and august sept etc contracts are one month contracts?)or( does it mean for every month july august and spet have 60 month contracts ending the same month five years later?) so i buy in june and the contract ends in june five years later?

    2.(and beyond 60 months the only trading months are june and dec for 9 years) or ( for the 9 years contract u can only buy in june and december?)

    3.if i buy the may 36 months contract now, it ends in may 2012 in between then i can liquidate the contract anytime before then?and may 2015 for 72 months contract period?
     
  6. I strongly suggest you go to the book store and buy a book an commodity futures trading, it will explain all the basics to you. If you attempt trading futures without a full understanding, you are almost certain to lose everything.
     
  7. can somone please clarify or validate those questions before please?
    ive read tonnes of books but very few of them talk about contract specifcations,
     
  8. Surdo

    Surdo

    What are you looking to accomplish, BUY and HOLD a crude oil contract and hold it for 5 years? June 2014 Crude is really not a factor in the front month!

    If you are trading crude short term, simply trade the most active front month.

    I read your post, you are making this way more difficult than it is.

    DO NOT touch the crude market in a live account until you get a clue!
     
  9. so you guys only trade short term? what if you long oil at 30 and it goes 150 in three four years time? im not insisting that this is right im only asking from a newbie's standpoint.

    but this is the question, it only moves so much in the short term
    isin't it earning the difference in the long term more worth it?

    i repeat. im just a newbie asking questions. ive traded oil related stocks and index futures only when everything was trading at a discount in march. that was very rude btw Surdo whether or not i know my info.
     
  10. Surdo

    Surdo

    What stops you from rolling a contract every few months, too complicated for you?

    The SEP 09 and DEC 09 both have enough volume to trade "longer term".

    What exactly is your question, seriously what are you trying to ask here?
     
    #10     May 20, 2009