Oops

Dude, not for CLVM!! We're currently trading May contract. He's trading the October expiry.

 

I knew it all along. This guy is a flake.

 

Volume is low for sure, but im not sure how wide the spread will be

 

He's also getting reduced margin on the Oct Expiry, by about 900 bux worth.

(Sorry, I'm all about the margins, heheh)

 

You're kinda' not getting the point of futures.

 

What price do you think oil will be in October?

 

Guys, revisit this thread on Monday morning when there' volume going through, and an open order book. Else we're all just spitting in each other's Cheerios. I understand the OP's logic.

 

Only reason why the spread is so wide is because of low volume. Look at the chart below. There's hardly no action. Why would you even consider trading it? Unless, he's absolutely sure the price will advance higher until October, it would be impossible to get out without a major slippage.

 

Margin isn't a worry unless it causes me to get stopped out at 28 instead of seeing it all the way back up to 50.

 

Exactly. That is the mindset of a speculative swing trader. I think @schizo is having trouble with the idea because he has been flipping long and short in daytrading a lot lately. It is a rough business going from that mindset of ultra-short-term scalping, to ultra-long-term swinging.