What's up with Futures closing prices?

Discussion in 'Trading' started by taojaxx, Jul 27, 2023.

  1. taojaxx

    taojaxx

    Sep CL contract last traded @$79.82 5:00pm today. Next thing I know, closing price is $80.09, which last happened around 2:30p. Works for me as I'm long but WTF?
    Is it VWAP? Or is it some dude in Chicago pulling a price out of a dark place depending how his book looks like?
    Anybody knows the rules?
    TIA
     
  2. Sekiyo

    Sekiyo

    Yes, we know the rules.
     
    murray t turtle and taojaxx like this.
  3. maxinger

    maxinger

    closing price is $80.09

    --->

    Settlement price is $80.09
     
  4. Sekiyo

    Sekiyo

    murray t turtle likes this.
  5. taojaxx

    taojaxx

    Thx Bro, learned something tonight.
     
    Sekiyo likes this.
  6. SunTrader

    SunTrader

  7. %%
    Good;
    looked @ both of those. Same way sometimes with ETFs.
    I like the lower number, not because it going down as i note this. Or more distant contracts going down.........
    I like the lower number[more bearish, less price shocks]= more conservative.
    Rules are subject to change.
    [But i allow 1% slippage in any market, seldom disappointed on that LOL]:D:D
     
    Sekiyo likes this.