Same experience here. Looked like thee would be a few bucks in quoting back months against the front .. Turns out not so much, after fines.
Liquidity has never been free. But nowadays it just ain't there⦠It's a mirage that vanishes at the sight of any serious size.
Rationally correct response though. See flow coming, have no interest facilitating it, unless getting compensated one way or another. And maybe it's informed flow :eek: => Unless there's liquidity behind you, cancel.
You gotta point there. It is natural behaviour no different from a flock of birds that scrambles out of the way as a hawk breaks through itâ¦