Have any of you guys been stuck limit up? I was making money long lean hog futures(HE symbol on IB). Then I decided to be clever and short. And now it's limit up. fck! And there's nothing IB can do. I can't get out. Really scared now. I forgot or hadn't realize that limit up can happen. In index futures it rarely happens.
December contract is still trading, not limit up. Can use to hedge short Oct. position. ***Watch the DOM on Oct. to see if more orders are piling up @ limit or being reduced. Might come off limit since other months not @ limit.
The only practical things you can do is a) buy a call option for the same month; b) buy a future in a contract month that is not limit-up. Both of these methods are imperfect and will only limit some of the future damage, since options cost $$$ (especially now) and a different futures contract month will not be perfectly correlated with the current month.
Thanks! Are you sure it's not limit up too? Because I'm afraid to enter now... And prices are not moving..
What month are you stuck in? I can see active trades taking place in Oct and Dec months via Time and Sales.
really? I'm in Oct. I called IB trading desk. They said they can't let me out. And TWS wouldn't let me buy back. wtf? what broker do u sue that let you trade?
oh shit! I bought Dec futures to hedge then it dropped. Got out at a loss. I will just sit through this one. Unhedged. Hedging is not so simple. Hopefully Dec will drop like a rock so it will mean that Oct will drop too ?
Place a limit order @ the "limit up price" and you might get filled. When price is locked @ limit, there are often orders being filled @ the limit price.