I am sharing my experiences with a test on a single contract. I don't need and don't appreciate your criticism when I am posting to assist other traders. My beef is not with a loss of $45.00. It is with another crock of crap being sold by the street.
nevertheless whiners like you are funny, indeed. And b.t.w I disagree that your "purpose" is selfless... i.e., to "assist". Rather, it's to b*tch and moan about something that you are responsible for, not others... ! I love guys who blame things on MMs or "the Street" or a broker like IB....... or the infamous "THEY". Etc. Etc. It's hilarious. There are so many opportunities to make money in the markets... how can anyone complain. When I lose, it is MY fault... no one elses! SO if you can't take constructive trading comments then don't post more of your b.s. on ET! Best regards bro... LOL I p.s. wil be interesting to note if you come back on ET to let others know what you learned about the disparity in price action with SSFs in said "underlying" equity, once YOU figure it out. Bet you just go off into the sunset!
he wasn't really bitching about anything, he put a comment up and wanted some feedback on something he was new at, that's why he took a small position on one contract, if you read his last sentence he is specifically asking if anyone has had any experiences w/SSF's, thus the whole purpose of a message board. He didn't blame the price on anyone. as far as SSF's go i had one experience came out a little ahead on msft. i personally don't think there is much action in them to trade regularly yet. but they would obviously be good for hedging
Last comment: I disagree that he "wasn't really bitching" or complaning that "the Street" designed SSFs to take advantage of incompetent traders. I think he was. Read his post. Case closed. He thinks he's a victim! And I agree that ET is a place to commiserate with others. But it does get tiring when so many guys like him come on with nothing to contribute, yet expect other (veterans) and/or those with experience gained through hard work.... to answer all their questions while essentially offering zilch ! Had he just "asked" why this or that likely occurred; fine! But he's blaming others! No? That is a trait of many (newbie?) losing traders! I was just noting that for his consideration. And, judging by his replies, he ain't learning squat. But then again these are the "victims" who are making it easy for others. ICe
They are futures after all so I would not necessarily expect them to move in lockstep with the underlying - depending upon how far out I am. However some of these contracts appear to not yet have enough liquidity to exhibit the momentum behaviour I would expect. Actually this type of behaviour makes them more interesting ..... a number of good plays recently so we are doing a bit more with these but they still are not the main focus ....
A "newbie losing trader"? HA! I will very likely pay more in taxes this year than you could hope to net. And it would be good to point out here that with all the time you took to write a number of posts bashing me for sharing information on SSFs, you have not addressed my intial question. Which was, and still remains: What are YOUR experiences with SSFs? If you can't address the question, and you can't contribute to the discussion, what is your purpose here other than to create negativity?
I didn't look up last price or all the details. However, I do know that BAC has an 80 cent dividend in December. A future = Cash * interest - dividends. Thus given the large dividend, you should expect the BAC future to trade a discount. Now assuming you know the above, if you believe the market is out of line, why not issue a quote request and arb the two? Worst case is that you hold onto the position until december expiration. edit: one last item - again, I assume you know this but just in case - don't compare the lasts, compare the bid/asks.
I think def makes a good point here. I caught myself wondering if you were looking at the close, or at the bid/ask. Because most of these SSF's trade very little, and therefore the last trade price may not reflect where the bid/ask is. I have traded SSF a few times just to experiment. I've traded C a few times, MSFT a couple of times. They do not trade all that much....but there is an active bid/ask market. If memory serves, at the time, both MSFT and C were quoted 20X20...the equivalent of 2000 shares. Spreads were a little wider than the underlying stock...but not much. I would not have a problem trading a SSF if I planned a swing trade. OldTrader
Went long SBC SSFs on a swing trade and the expiration came up at an inopportune time. Thus, to keep the position I would have had to roll and pay the spread multiple times over. I won't bother with SSFs again. There is no point to it unless one needs to avoid PDT or needs to leverage up in a short timeframe.
Alternatively, you could have let it expire and rec'd the security as they physically settle in the states.