Oil futures question

Discussion in 'Energy Futures' started by TheStudent, Jan 27, 2004.

  1. Hoping somebody might know the answer to this.

    The NYMEX crude miny contract has an expiration date, a termination date and a notice date.

    Is termination = when the contract stops trading & notice = when you give notice as to physical delivery.

    Since to my knowledge, the e-miny is a cash settled contract. I guess notice date doesn't apply?

    Also, is it just me or does the e-miny not trade in the 3.15-5.30 pm 6.00pm - 9.30am sessions like it is supposed to? I have never been able to get any liquidity in those sessions.
     
  2. do you mind me asking what broker you are using to trade mini crude?

    by the way ... the exchange has a bust policy of 6 ticks

    so I have found it hard to trade within that zone in after market
    pre market hours as there is almost zero liquidity in the contract

    then .... and I must look at real time quotes for the big contract
    to see the ballpark area for those 6 ticks

    as far as your Q on dates for termination of trading its best to ask your broker ASAP , if you are in a position of a soon to expire
    month of e mini crude
     
  3. saxon

    saxon

    You are correct. QM & QG are cash settled.

    I called NYMEX a while back to make absolutely sure of that. Didn't fancy the idea of an oil truck pulling up outside my apartment if I forgot to close a long position.

    :)

    saxon
     
  4. Seth,

    I am using RJ O thru Tradestation.

    They keep screwing up my trade reports though whenever I trade the eminy.